[Report by Iran state-run TV about the economic relations between EU and the U.S.]
Reporter: EU and U.S. take steps to resolve trade disputes. The U.S. president and head of European Commission entered into a negotiation. After talking to Jean-Claude Juncker, Trump announced the beginning of new phase of the relation between the U.S. and Europe, adding that EU and the U.S. want to move towards zero percent tariffs on industrial products other than auto-industry. Insisting on the claim that the U.S. has lost hundreds of billions of dollars over trades with EU in years and this relation must become fair, Trump said that ‘we all believe that there must be no tariffs, obstacles, or subsidies involved.’ Juncker said that the U.S. and EU will stop implementing more tariffs while negotiations are underway. Implementing tariffs on imported automobiles imported from Europe to the U.S. will stop for the time being. According to the agreement between Trump and Juncker, EU will increase importing soy and natural gas from the U.S., and Trump is committed to resolving the issue of tariffs on imported steel and aluminum. Trump’s America Frist policy has created concerns in the field of the global trade about the result of a trade war in the world. CEO of World Trade Organization has warned about the significant impact of a trade war over the global economy.