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The U.S.-EU Trade Deal That Wasn’t

Posted July 30, 2018

Under Economic Issues, International Trade Issues

(Peter Buxbaum – Global Trade Magazine)

“I had the intention to make a deal today, and we made a deal today,” said Jean-Claude Juncker, president of the European Commission, as he stood alongside President Donald Trump at a White House Rose Garden press conference last week.

Yeah, right.

It was very generous of the EC president to give something for Trump to crow about. But the European Union and the United States made a trade deal last week just like the US and North Korea made a nuclear deal last month.

What Trump and Juncker sealed with a kiss was a moratorium on the auto import tariffs that Trump was threatening. That represented a walk-back by Trump of his announced trade policy and a win for Juncker who successfully protected European automakers from US tariffs, at least for now. Click here to read more.