Quote We met right here at the White House to launch a new phase in the relationship between the United States and the European Union.

FREER, FAIRER, AND MORE RECIPROCAL TRADE: President Donald J. Trump announced a new phase of transatlantic trade so both sides can win and the world can prosper.

President Trump and European Commission President Juncker agreed to the following 4 principles to negotiate freer, fairer, and more reciprocal trade: Working toward zero tariffs, zero non-tariff barriers, and zero subsidies; Increasing United States energy exports to Europe; Reducing bureaucratic obstacles; and Reforming the World Trade Organization (WTO) and addressing unfair trade practices.

Strengthening and reforming our trade relationship is critical to both economies and will lead to greater prosperity. The United States and the European Union (EU) have the largest economic relationship in the world, accounting for $1 trillion in bilateral trade and 15 million jobs. The United States and the EU account for almost 50% of global GDP.



FOUR TRADE PRINCIPLES: High-level trade negotiations will follow the 4 principles agreed to by President Trump and President Juncker.

First, we will work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-automotive industrial goods. In addition: The EU will also reduce barriers and increase trade of American soybeans. Both sides will work to reduce barriers and increase trade in services, chemicals, pharmaceuticals, and medical products.

Second, the United States will make it easier for the EU to purchase liquefied natural gas. This will help diversify Europe’s energy supply and strengthen the strategic cooperation between America and Europe.

Third, we will seek to reduce trade and bureaucratic obstacles between the United States and the EU to slash costs dramatically. Both sides agreed to launch a close dialogue on standards and regulations to promote trade, reduce bureaucratic obstacles, and dramatically slash costs for exporters.

Fourth, we will join forces with like-minded partners and address unfair trade practices. These unfair trade practices include intellectual property theft, forced technology transfer, industry subsidies, distortions created by state-owned enterprises, and industrial overcapacity.



NEXT STEPS: President Trump and President Juncker will ensure their closest advisors carry this agenda forward immediately.