Trump, EU agree to work on lowering tariffs, averting a potential trade war

#TIA – The on-again, off-again trade war tilts a little in favor of the EU, a little worse against China.

“President Donald Trump on Wednesday said the United States and the European Union had launched a “new phase” in their relationship, saying that the two major economies would start negotiations immediately on a number of areas that include working toward “zero tariffs” on industrial goods, and further cooperation on energy issues.

“We agreed today, first of all, to work together towards zero tariffs, zero non-tariff barriers and zero subsidies for the non-auto industrial goods,” Trump said at a joint press conference in the White House Rose Garden with European Commission President Jean-Claude Juncker.”

Read more at CNBC