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EU Agrees to Buy More U.S. Soybeans

Trump and European Union leaders announced Wednesday they have agreed to work toward "zero tariffs" and "zero subsidies"

President Donald Trump and European Union leaders announced Wednesday they have agreed to work toward "zero tariffs" and "zero subsidies" on non-automobile goods and would work to resolve U.S. tariffs on steel and aluminum imports that have roiled European markets, reports Ag Web.

The president, in a statement with European Commission President Jean-Claude Juncker, said the EU had agreed to buy "a lot of soybeans" and increase its imports of liquefied natural gas from the U.S. Juncker, meanwhile, said the U.S. and EU had agreed to hold off on further tariffs as part of trade talks aimed at averting a crippling trade dispute involving the lucrative automobile market.

As U.S. soybean farmers have struggled against retaliatory tariffs, Juncker said the EU "can import more soybeans from the U.S. and it will be done."

Read the full report here.

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