President Donald Trump arrives to board Air Force One , Thursday, July 26, 2018, in Andrews Air Force Base, Md. Trump is traveling to Iowa and Illinois in which his trade agenda is expected to be a leading issue. (AP Photo/Evan Vucci)

The Latest: GOP lawmakers tell Trump aides of tariff concern

July 26, 2018 - 12:26 pm

WASHINGTON (AP) — The Latest on trade developments involving the United States and the European Union (all times local):

12:15 p.m.

Republican members of Congress are telling White House economic advisers Larry Kudlow and Peter Navarro how tariffs have hurt their constituents.

The Capitol Hill meeting follows the White House announcement that the U.S. and European Union have agreed to hold off on new trade penalties and the EU has agreed to buy more soybeans and liquefied natural gas from the U.S.

Rep. Andy Barr of Kentucky says he told the White House advisers that Wednesday's announcement "was a positive sign and we appreciate the administration lowering the temperature with the EU."

But Barr also says bourbon makers in Kentucky have been hit with retaliatory tariffs and "don't have a solution yet."

Rep. Bill Huizenga of Michigan says he's concerned the administration has started a trade war and "those are very difficult to win."

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12:10 p.m.

President Donald Trump is stopping in the Midwest to highlight an industry that's benefiting from his trade policies.

Trump will meet with steelworkers in Granite City, Illinois, where U.S. Steel recently announced it was firing up a furnace that had been idled for more than two years.

The company credits Trump's plan to impose tariffs on imported steel and aluminum for the move.

The president also will stop in Peosta, Iowa, to tour a manufacturing lab and participate in a discussion on workforce development.

There are large parts of the economy — technology companies, farmers and manufacturers — blaming Trump's policies for job losses.

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8:50 a.m.

Treasury Secretary Stephen Mnuchin says addressing steel and aluminum tariffs and counter tariffs will be covered in the first phase of new negotiations between the United States and the European Union.

Mnuchin says President Donald Trump and his European counterparts reached an "agreement in principle" to avoid an escalation in their trade dispute.

He is reiterating that there will be no new tariffs imposed while the two parties are negotiating a final deal. He says if the US concludes an agreement, there will be no tariffs placed on foreign-made automobiles in the EU.

The Treasury secretary tells reporters at the White House that after steel and aluminum tariffs are resolved, talks will focus on agricultural issues, chemicals and natural gas.

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12:15 a.m.

Tensions between the U.S. and the European Union over a possible automotive trade war have eased with officials agreeing to hold off on new tariffs and instead engage in talks to break down trade barriers.

President Donald Trump and European Commission President Jean-Claude Juncker say they've agreed to work toward "zero tariffs" and "zero subsidies" on nonautomotive goods.

Trump says the EU has agreed to buy "a lot of soybeans" and increase its imports of liquefied natural gas from the U.S. And the two sides have agreed to resolve a dispute over U.S. tariffs on steel and aluminum.

Negotiations are sure to be contentious and the United States remains embroiled in major trade disputes with China and other trading partners.

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