From Davos, Switzerland, where the World Economic Forum is being held, President Trump told reporters that his administration intends to work on a new trade deal with the European Union.
“We’re going to start negotiating,” Trump said, looking to conclude the agreement before the U.S. presidential election next November.
The president also stated his view of Europe as a difficult partner to do business with.
“The U.S. has been losing $150 billion or more over many years with the European Union,” he said. “They have trade barriers where you can’t trade, they have tariffs all over the place. They make it impossible. They are frankly more difficult to do business with than China.”
Trump said he had met with the president of the European Commission Ursula von der Leyen to discuss the matter, and he expressed his optimism that preparatory workings of the deal would go ahead quickly.
A new trade accord could possibly lead to changes in tariffs imposed by the U.S. on imported food products from the Union, including table olives and olive oil.