US President Donald Trump and European Commission President Ursula von der Leyen have vowed to move forward quickly to reach a trade agreement and ease tensions.
Trump said in a press conference, after his short visit to the World Economic Forum in Davos on Wednesday, that he expected to negotiate a trade deal with the European Union (EU) before the presidential elections in November.
The head of the EU Commission said that Brussels "expects within a few weeks to have an agreement that we can sign" with the United States, including trade, technology and energy.
The potential for a rapid fix to the trade troubles that have been festering for months between Washington and Brussels will be greeted with relief by business leaders, who have worried that Mr Trump would become more aggressive towards Europe on trade after securing a commercial truce with China this month.
The prospect of a quick resolution to the trade tensions that have been around for months between Washington and Brussels are expected to be Relieved by business leaders, who fear Trump will become more aggressive towards Europe over trade after securing a trade truce with China this month.
Meantime, as Trump wants to reach an agreement with the EU, he said the union was more difficult to deal with than China and warned that he was ready to impose a new tariff on EU products if negotiations faltered.
"The European Union has trade barriers where you can't trade, they have tariffs everywhere. They make it impossible. They are frankly more difficult to do business with than China," Trump said.
It is noteworthy that Washington imposed duties on $ 7.5 billion in European Union goods, last October, after an illegal aircraft subsidies, which it the EU threatened to expand.
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