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EU might cut soybean purchases if auto tariffs begin

The European Commission President says if President Trump imposes new tariffs on cars, the EU would probably not stick to its promise to buy more U.S. soybeans and energy. 

Jean-Claude Juncker told a German newspaper that Trump assured him import tariffs would not be placed on European cars in the immediate future, but that might happen in the next 90 days now that Trump has a new report from the U.S. Commerce Department advising if EU imports are a U.S. national security threat.

European Commission officials told reporters if the U.S. imposes up to 25% tariffs on EU exports, the commission would react “in a swift and adequate manner.”