The unexpectedly successful trade meeting between President Donald Trump and EU President Jean-Claude Juncker yesterday has raised hopes that a much bigger trade war can be averted. Admittedly, the lack of details in the ‘deal’ agreed yesterday suggests that this temporary truce on imposing new tariffs could easily fall apart and a similarly vague agreement with China in early June quickly collapsed. But this is the first time that one of Trump’s trade adversaries has tried adopting a more conciliatory approach in direct talks with the President. Its success might persuade others to follow suit.
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