President Donald Trump announced on Friday an agreement to boost beef exports to the European Union.
Trump signed an agreement to "reduce trade barriers in Europe and expand market access for American farmers and ranchers," surrounded by trade officials and White industry officials. According to the US Trade Representative, annual duty-free US beef exports to the EU will nearly triple, from $ 150 million to $ 420 million.
"This is a huge victory for American farmers, ranchers and, of course, European consumers," said the White House President when he revealed the deal.
The agreement comes about as agriculture slaps from Trump's ongoing trade war with China. The President has tried to limit the economic and political damage caused by the conflict before the 2020 elections. His government recently announced a USD 1
President Donald Trump gives a speech at the Roosevelt Room of the White House in Washington on May 9, 2019.
Jonathan Ernst | Reuters
On Thursday, it threatened to impose 10% duty on Chinese goods worth $ 300 billion in September, a move that would drive up prices for many consumer goods.
With the beef agreement Trump wants to partially defuse the trade tensions with the European Union. Earlier this year, the administration postponed a decision to levy slap on European cars and car parts.
He caused a temporary shock to European officials in the White House on Friday when he called for car rates without being asked.
"We are working on an agreement whereby the European Union has agreed to pay 25% on all Mercedes-Benz, BMW, coming to our country, and we appreciate that," said the President.
"I'm just kidding," he continued, triggering a laugh in the room. "They were starting to worry, thanks, congratulations, best beef in the world, thank you!"