Global Geopolitical Series: EU to offer greater market access to U.S. to avert trade war

After meeting in Sofia, Bulgaria, 27-member strong European Union leaders decided to take up steps to avert a direct trade war with the United States, where Trump administration has been at loggerheads with the European Union over its large surplus with the U.S. which reached a record high of $151.4 billion in 2017.

According to reports, Germany was keen to avert a direct trade war with the United States to protect its car industry, whereas France was against providing overly concessions to the United States. At the end of the meeting, a common stance was taken by the Union that it is ready to negotiate with the United States to prove greater market access to U.S. imports by removing certain barriers.