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Following the European Union and US trade statement by the US’ President Trump and the EU’s Juncker, loose agreements on trade have been made between the two, but nothing is “on paper”, and how they are going to bring about the trade changes remains to be seen.

Key highlights

Trump says that the EU and the US will both win.

Juncker agrees on the need to address forced tech transfers through trade.

The EU has agreed to buy more US soybeans, as well as liquid natural gas.

The US and the EU are going to unilaterally  ‘try’ to reduce industrial trade barriers.

The EU wants Trump to immediately halt steel and aluminum tariffs targeting Europe.

Europe is likely hoping that Trump stops focusing on European auto tariffs.