"The US administration has already applied high tariffs to European Union steel and aluminium exports, and is embroiled in a trade war with China". He said the two sides also agreed to work together to reform the World Trade Organization, which Trump has vehemently criticized as being unfair to the U.S.
Appearing alongside Mr Trump at a news conference, Mr Juncker said as long as US-EU negotiations are ongoing the EU will "hold off further tariffs" on American goods.
He added: "I had one intention today, to make a deal, and we made a deal".
On Wednesday, Trump and Juncker said they have agreed to work toward "zero tariffs" and "zero subsidies" on non-automotive goods.
In a joint appearance before the press with Juncker, Trump said that the European Union will begin importing soybeans from the US Midwest, as well as liquefied natural gas to "diversity" its energy sources, in addition to reducing some industrial tariffs.
White House Admits Tariffs Are Hurting Farmers As It Plans Relief Program
To date, every time that the Trump administration has imposed a tariff on China, China has imposed an equal tariff on US goods. Trump is tweeting that trade partners need to either negotiate a "fair deal, or it gets hit with Tariffs.
Trump said he and Juncker are committed to strengthening the trade relationship between Americans and Europeans and to loosening trade restrictions.
The meeting comes at a critical time for the trade relationship between the European Union and the U.S. After the 10 percent tariff on aluminum and 25 percent on steel, The Washington Post reported that Trump is considering slapping a 25 percent tariff on automobiles, an idea that has drawn fierce criticism from European Union officials - from where many U.S. vehicle imports originate. Trump announced a similar reprieve with China in May, only to impose tariffs. "If we team up, we can make our planet a better, more secure, and prosperous place". "We also will resolve the steel and aluminum tariff issues, and we will resolve the retaliatory tariffs".
As he headed into the meeting, Mr. Trump shrugged off intense criticism from business leaders, farmers and his own GOP lawmakers that he was igniting a trade war that hurts the US economy.
"I think it's a sign that our government caused this by these tariffs, and it's a sign they're trying to help us because they know they're the ones that imposed these and they caused this market to go down", Mensink said. The escalating trade war and tariffs on steel and aluminum had put pressure on auto companies' earnings.
The president, who former White House chief strategist Steve Bannon last week said is "attracted" to strongman leaders, offered some advice on toughness to his trade skeptics: "No weakness!" Lost $817 Billion on Trade previous year. Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs.
USA import tariffs of 25% on steel and 10% on aluminium, implemented in March, will remain in place during the talks.