President Trump struck a trade deal Wednesday with the European Union, reaping significant concessions as top EU officials moved to avoid an escalating tariff war with the U.S.
The agreement seeks to eliminate all tariffs and trade barriers and eliminate all subsidies on non-auto industrial goods, which was the deal pushed by Mr. Trump.
“This was a very big day for free and fair trade,” Mr. Trump said in announcing the deal in the Rose Garden with European Commission President Jean-Claude Juncker by his side.
Mr. Trump called the deal a “new phase” in the U.S.-E.U. relationship.
The deal also included the E.U. importing more U.S. soybeans, lowering industrial tariffs and working on an agreement to import more liquified natural gas (LNG) from America.
“I had the intention to make a deal today and we made a deal today,” said Mr. Juncker.