It is a major victory for the European Union that US President Donald Trump and President Jean-Claude Juncker, President of the European Commission, announced a ceasefire in the commercial war between Europe and America following their Washington meeting, “the Financial Times British business newspaper wrote in Thursday’s article.
In the opinion of the newspaper, it is a clear victory for Europe that the two sides have agreed to cooperate in the development of duty-free products for industrial products and the abolition of subsidies for non-automotive products.
According to the Financial Times, the victory for Europe is beginning to begin negotiations on the duties that have been imposed so far, during which no party will issue new customs duties. The announcement was called a misty word by the commentary but at the same time he considered it as a short-term win for both parties as it alleviates the pressure on their two leaders to find a solution to halt the downward spiral of trade relations.
According to the authors of the article, Shawn Donnan and Demetri Sevastopulo, according to the statements of the parties, it remains unclear how long the cease-fire lasts, since no deadline has been set for the completion of the negotiations and the US President may do a full backing once in China this year.
Business groups were cautiously welcomed Wednesday’s agreement, but hope that the trade war will end, “the British business newspaper said.
In a Belgian daily Libre Belgique, Juncker and Trump ran out on Wednesday at the Battle of Commerce War.
According to the newspaper, there was a big deal since the US promised to introduce serious customs duties in addition to US customs duties on European steel and aluminum products as well as imports of cars.
The author of the article evaluated that Donald Trump no longer views Europe as an enemy, calling for “fair day” to negotiate free and fair trade. According to the commentator, however, it can not be said that confidence would have been fully restored, as the devil is hiding in details like Juncker’s promise of a large volume of imports of American soybeans, for which the consent of the other Member States is also needed. But such a pledge to buy more American liquefied gas (LNG) than before, since Russian Gazprom’s offer is still more favorable to America, not to mention geographic proximity and infrastructure already built, “said the author.
He recalled that the joint statement states that neither the United States nor the European Union will face the spirit of the agreement in order to improve their trade relations. But it also stipulates that the agreement will be terminated if one party interrupts the negotiations. This last sentence seems to be an insurance policy for Europe in the face of unpredictable confrontation with the American president, the Belgian daily writes.