In what is being described as "a major win," President Trump and European Commission President Jean-Claude Juncker have announced new negotiations aimed at "zero" tariffs in many sectors of trade between the United States and the European Union.

Fox News financial analyst Neal Cavuto called it a "dramatic, a stunning development, on trade.

"The Europeans, it might be deemed, have blinked. They have made concessions to President Trump … to meet the president's demand that lifts tariffs that are already in effect against the European Union," he said.

"This is a major win for President Trump. It is a major concession on the part of the European Union. … A few hours ago, they were pooh-poohing — all the major publications … for the president of the United States, a win, and a big one, economically."

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Juncker said in a White House news conference the U.S. and EU "have identified a number of areas in which to work together" with the goal of coming "down to zero on tariffs on industrial goods."

There also will be additional cooperation on energy, and dialogue on standards has been scheduled.

The two sides agreed to hold off on further tariffs during negotiations, he said.

Trump described the move as a way for both sides to win, highlighting the fact that the 830 million citizens of the U.S. and EU control more than half of global trade.

"We will work toward zero tariffs … zero on tariff barriers, and zero subsidies on non-auto industry goods," the president said.

"The European Union is going to start almost immediately to buy a soybeans from our farmers in the Midwest primarily," he said.

The two sides will seek to resolve the steel and aluminum tariff issues as well as a number of tariffs imposed in retaliation.

The full news conference:

Trump also secured an agreement with Europe to buy more liquified natural gas from the United States.

The Dow Jones Industrial Average jumped on the news, which was regarded by analysts as a victory for Trump's strategy of using tariffs and tweets to level the trading field for the U.S.

Within a day, a video of the press conference on YouTube has collected nearly 12,000 comments, many in the vein of "You go, Mr. President."

Others were:

"I will never vote Democratic again! Thank you President Trump for opening my eyes."

"I've never seen a politician work SO HARD as POTUS in my lifetime! Oh wait … he's not political-minded, but business-mined, that explains it … He's running circles around every politician in Washington."

"So trump got it way … wow … so he slaps tariffs on them and they come to the table to negotiate … wow. And the media said this would lead to a trade war."

Mike King took another perspective: "Trump has a fraction of the vocabulary of Junkers. Sounds like Trump has caved in on his ridiculous tariffs to the EU."