As a result of talks between the head of European Commission and US President, Donald Trump agreed to refrain from tariffs on import of cars, Reuters informs. Parties also started discussing possible reduction of other barriers, including recently imposed duties on steel and aluminum.

Experts think that this is a positive result benefiting free trade. German Minister of Economy is even more optimistic and called negotiations a breakthrough that will help avoiding trade war and saving millions of jobs.

So far tariffs on steel (25%) and aluminum (10%) imposed in March are still in place. In addition, according to US President, Europe will be increasing purchases of LNG and lower barriers for American soybeans.

It shall be noted that German automobile industry, including such companies as BMW, Daimler and Volkswagen, accounts for about 800000 jobs that can suffer, if US imposes tariffs on imported cars.