Pushback expected as Trump seeks lower EU tariffs on US goods - Reuters

Joshua Gibson FXStreet

Donald Trump announced late Monday that Wilbur Ross, the US Commerce Secretary, will be asking the European Union to lower trade barriers to the US. Trump's opinion is being flatly rejected by the EU, as reported by Reuters.

Key Highlights:

Wilbur Ross will be asking the EU to lower trade barriers aimed at the US.
Trump consider EU tariffs unfair to US farmers and manufacturers.
The EU accused Trump of 'cherry-picking' data amidst the dispute over US metal tariffs.
The EU is still seeking exemptions from Trump's steel and aluminum tariffs.
EU says US administration hasn't been clear on how exemption process works.
Trump insists he's willing to drop US tariffs if the EU does so first.
European Commission plans to be in contact with Washington this week.
The EU will potentially be making a legal challenge at the World Trade Organization regarding tariffs.
Extra tariffs aimed at US goods also proposed to 'rebalance trade flows'.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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