European Union imports of U.S. soybeans were already rising substantially before a top EU official told President Donald Trump last week that the bloc would buy more.
EU Commission figures released Wednesday show that 37 percent of the bloc’s soybean imports last month were coming from the U.S., compared with 9 percent in July 2017.
Amid a looming trade war over tariffs, Trump and Commission President Jean-Claude Juncker agreed on July 25 to start talks intended to achieve “zero tariffs” and “zero subsidies” on non-automotive industrial goods.
The EU also agreed to buy more U.S. soybeans and build more terminals to import liquefied natural gas from the United States.
Juncker said: “The European Union can import more soybeans from the U.S. and this is happening as we speak.”
This article provided by NewsEdge.