TRUMP WINNING: Trump and EU’s Juncker Make A Deal To Avert a Trade War…

View original article on zerohedge.com

SUMMARY:
So we have a deal, maybe. Trump and Juncker reached a deal to avert a transatlantic trade war, ease tensions stoked by Trump’s threat and impose tariffs on car imports.

The two leaders agreed to expand European imports of U.S. liquified natural gas and soybeans and lower industrial tariffs on both sides, Trump said. The U.S. and European Union will “hold off on other tariffs” while negotiations proceed, Juncker added.

THE CENTIPEDE BREAKDOWN:

TRUMP: We agreed to work together toward zero tariffs on industrial goods

So the US and EU will reduce tariffs on machinery and components in order to make manufacturing more financially viable in the US and EU.

TRUMP: Deal made to strengthen strategic energy cooperation

Continuing the Bush era policy of the US increasing oil and gas production in order to reduce the wests dependency on Russia and the Middle East.

TRUMP: We'll resolve steel, aluminum tariff issues
JUNCKER: We agree there's global overcapacity in steel sector

Translation: F*** China.

JUNCKER: We agree there are too many illegal subsidies

Translation: F*** China again.

JUNCKER: We agreed on need to crack down on forced tech transfer

Translation: No really, F*** China.