Trump lashes out at EU again on trade | 2017-07-25 |

Trump lashes out at EU again on trade

AFP     25th July, 2017 08:20:31 printer

Trump lashes out at EU again on trade

President Donald Trump once again lashed out at the EU on Tuesday for what he called its "protectionist" trade practices, and indicated the United States will focus on a major deal with Britain.


"Working on major Trade Deal with the United Kingdom. Could be very big & exciting. JOBS!" Trump tweeted.


"The E.U. is very protectionist with the U.S. STOP!"


Trump frequently turns to Twitter to attack US trading partners for what he says are unfair trade policies, as his America-first agenda focuses on cutting US trade deficits, something economists say is unlikely to work and potentially damaging.


In the EU, Germany has been a frequent target of Trump administration due to its large trade surplus.


The latest Twitter swipe came as US and British officials opened the second day of the inaugural round of talks aimed at guiding trade relations between the two countries in the post-Brexit era.


US Trade Representative Robert Lighthizer is meeting with his British counterpart Liam Fox for the US-UK Trade and Investment Working Group.


It will be "a key mechanism to deepen our already strong bilateral trade and investment relationship, and to lay the groundwork for our future trade relationship once the UK has left the EU," Lighthizer said in a statement Monday.


"I look forward to building on our already strong economic relationship and furthering our mutual goal of achieving free and fair trade and investment to create good-paying jobs on both sides of the Atlantic."


Fox said it will be important to give businesses in both countries continuity while Britain negotiates its status with the EU and after Brexit.


"This will be our forum to strengthen the bilateral trade and investment relationship and deepen the already extensive economic ties between the UK and US," Fox said.


Trade between the two countries is already worth about $230 billion a year, and together there is around $1 trillion invested in each other's economies, according to USTR.