Trade war fosters uncertainty, and that's no good

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Jean-Claude Juncker, who heads the EU's executive arm, will meet President Donald Trump in an attempt to overcome their differences, specifically on auto tariffs.

Trump said he expected "something very positive to take place" during the White House talks - after sending a series of tweets blasting Europe for unfair treatment of USA exports.

On July 24, the Department of Agriculture announced a plan to give $12 billion in aid to US farmers hit by retaliatory global tariffs on American produce, grain and meat exports. But the European Union sees these tariffs as an economic threat and is preparing retaliatory measures.

"We tried earlier in the framework of negotiations on the Transatlantic trade and investment partnership (TTIP) to get the U.S. to weaken these laws". After nearly three hours of talks, Trump said he wanted to hold a joint press conference with Juncker to announce the good news.

"That would be very worrisome, that would be rewarding Trump threats on tariffs", said Rem Korteweg, head of the Europe in the World unit at think-tank Clingendael.

The two sides said they would seek to resolve a dispute over steel and aluminum. "The EU continues to stand up for free and fair trade".

"We had a big day, very big", Trump said in a joint statement with Juncker at a joint press conference in the White House Rose.

The company credits Trump's plan to impose tariffs on imported steel and aluminum for the move.

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Juncker said the two leaders agreed that as long as negotiations were ongoing, "we'll hold off further tariffs and reassess existing tariffs on steel and aluminum" put in place by the Trump administration.

Trump had pressed European leaders hard on trade in recent weeks, including during his meetings with North Atlantic Treaty Organisation allies in Brussels.

Even if Trump is the skilled negotiator he claims to be, offering aid to those affected and making deals one by one to roll back the damage done by his own tariffs might be a task too large even for the author of "The Art of the Deal".

Trump backed off from his threat to slap hefty tariffs on automotive imports as part of the agreement.

The Trump administration has imposed tariffs on 34 billion dollars (£26 billion) in Chinese goods in a dispute over Beijing's high-tech industrial policies.

She added that she did not think the United States proposal to drop tariffs, barriers and subsidies was serious, pointing out that the United States has laws, such as the Buy American Act, protecting its industries and agricultural policies supporting its farmers.

Ivanka Trump said it would help 11 million students and workers across the country acquire the technical skills they need to thrive in an increasingly digital economy.

The outcome seemed a victory for Trump, who had assured supporters that his confrontational trade strategy would bear fruit, and who appears to have conceded little in the talks with the EU.

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