The United States and the European Union (EU) have surprisingly agreed to suspend a trade war that was initiated by US President Donald Trump and that risked disrupting their economies.
Trump and European Commission President Jean-Claude Juncker emerged out of negotiations on Wednesday with an announcement of a trade truce that caught observers by surprise.
“We want to further strengthen this trade relationship to the benefit of all American and European citizens,” Trump said in a statement after meeting with Juncker and during a joint press conference at the White House Rose Garden on Wednesday.
“We agreed today, first of all, to work together towards zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods,” he said.
While there were few details about the agreement, the mere fact that it was struck defied earlier fiery rhetoric from Trump and counter-rhetoric from the EU.
Trump had recently…