Trump announces deal with EU to reduce trade barriers and tariffs

President Donald Trump and European Commission President Jean-Claude Juncker have given a joint statement on trade and tariffs.

"We agreed today, first of all, to work together towards zero tariffs, zero non-tariff barriers and zero subsides for the non-auto industrial goods," Trump said.

Trump also said the two discussed the EU purchasing more U.S. soybeans and liquid natural gas. He said the goal was to work toward more reciprocal trade partnership.

“This was a very big day for free and fair trade,” Trump said.

Juncker said they agreed to reassess existing tariffs on steel and aluminum and suspend further tariffs while negotiations are taking place.