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Trump: EU to buy more U.S. soybeans, comments on farmer aid

President Trump says there is progress in trade negotiations with the European Union. He says the two sides plan to, “work together towards zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods.”

At an impromptu press conference Wednesday afternoon, Trump and the European Commission President Jean-Claude Juncker outlined a vague agreement which includes good news for farmers.  “Soybeans is a big deal, and the European Union is going to start almost immediately to buy a lot of soybeans.  They’re a tremendous market.”

Juncker says he and Trump agreed to more than a soybean sale.  “The European Union can import more soybeans from the U.S. and it will be done, and we also agreed to work together on the reform of the WTO.”

The two leaders told reporters they will also not impose any additional tariffs against each other unless one or the other withdraw from trade negotiations.

Trump told reporters he knows where the negotiations are going and called it a great day for free and fair trade.

Trump also commented on his administration’s 12-billion dollar farmer assistance program.  In a statement from the White House, Trump says the aid is to provide relief from unfair retaliations until free, fair, and reciprocal trade deals can be reached.

The President says he understands farmers want markets and not checks.  He says U.S. trading partners have “weaponized agricultural exports, rather than working to negotiate mutually beneficial and fair trade deals.”