President Trump will sit down with European Commission President Jean-Claude Juncker on Wednesday to discuss trade with the European Union, and it's not likely to be an easy meeting.
Trump's refusal to back down from his tariffs on European steel and aluminum will make the meeting a tense one, reports Fortune, as Juncker, representing all EU nations, tries to convince him not to additionally impose steep tariffs on European cars. "The relations are very tense, are at a very low point," economist Danae Kyriakopoulou told CNBC. Trump earlier this month called the EU a "foe," criticizing "what they do to us in trade."
Trump on Tuesday tweeted a suggestion that "both the U.S. and the EU drop all tariffs, barriers, and subsidies," but predicted that the EU wouldn't do it. While chances are extremely slim that the EU would go for any drastic change to its trade policies, EU trade commissioner Cecilia Malmström said last week that the bloc wants to find some way to "create additional opportunities for trade and investment."
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Trump and Juncker will seek a middle ground, with Malmström saying that the EU's priority is to "de-escalate the present situation." Even though Trump is facing criticism for some of his tariffs hurting American farmers, he has continued to express interest in tariffs on German cars. The tension "doesn’t set the scene for a very fruitful meeting," said Kyriakopoulou. Read more at Fortune.
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