Trump and top European leader agree to work toward zero tariffs

Nebraska senators react to $12B plan to assist farmers affected by tariffs

President Donald Trump speaks with Jean-Claude Juncker, president of the European Commission, during a joint statement about how the US will work with the European Union to try and eliminate trade tariffs, in the Rose Garden of the White House on Wednesday.

The leaders agreed to "launch a new phase" in the relationship and "to work together towards zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods", Trump said.

"If we could have no tariffs, and no barriers, and no subsidies, the United States would be extremely pleased", he said as he met Mr. Juncker in the Oval Office.

The U.S. Department of Agriculture says the $12 billion three-part plan will borrow money from the U.S. Treasury to pay producers of crops impacted by tariffs, one of those crops being Kansas' number one export to China, soybeans.

Appearing alongside Mr Trump at a news conference, Mr Juncker said as long as US-EU negotiations are ongoing the EU will "hold off further tariffs" on American goods.

Trump had also claimed the European Union had a $150bn trade surplus with the European Union, but Juncker corrected him, saying it was $50bn less due to a U.S. surplus in services.

"This was a big day for free and fair trade!", tweeted an excited President Trump.

Germany's economy minister described the agreement - which means Washington will not follow through with a threat to impose tariffs on autos that would hurt the dominant German vehicle industry - as a "breakthrough" that "can avoid trade war".

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Updated 4:52 p.m. |President Donald Trump and European Commission President Jean-Claude Juncker announced a plan to - perhaps - end the trade conflict between America and some of its oldest allies.

On Wednesday, the soft-spoken Juncker made conciliatory comments, saying that the USA and the European Union are "close partners, allies not enemies" and noting that the US and European Union represent half of the world's trade.

USA import tariffs of 25% on steel and 10% on aluminum imposed in March will remain in place during the talks, but Juncker added: 'It is the first time that the Americans agreed to reassess the measure that they have taken in the steel and aluminum sector'.

"This consistent and retaliatory taxing system called tariffs, is not the way to find prosperity for the state of Wisconsin", Rep. Steffen tells Action 2 News.

The United States earlier this month imposed 25% tariffs on $34 billion worth of Chinese products, drawing a tit-for-tat response from Beijing, which targeted politically sensitive U.S. agricultural products.

The president said Europeans can diversify their energy supply through trade with the United States. The U.S. and European Union are now working to resolve their differences over steel and aluminum - but the tariffs are still in place. "We also will resolve the steel and aluminum tariff issues, and we will resolve the retaliatory tariffs".

"We know that the impact has been substantial enough that it has made the difference between whether there is a profit margin in some cases", Rotz said. "About one in every three rows of soybeans we raise is exported to China they account for about 60% of the USA exports of soybeans are a big deal but pork has been greatly impacted as well by reduction in exports to China and through NAFTA to Mexico most of our meat and livestock products, dairy and beef as well, impacted a lot", Ag Expert Kent Thiesse added. Lost $817 Billion on Trade a year ago.

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