Has US-EU trade war been averted? Not yet, but new deal puts brakes on escalating tension

WASHINGTON - United States President Donald Trump's hardball approach with the European Union on trade appeared to pay off on Wednesday (July 25) when he announced trade concessions from the EU and a "new phase in the relationship".

Though details were not clear, the upbeat announcement was seen as averting a US-EU trade war, and putting the transatlantic alliance back on a firm footing after weeks of uncertainty; only recently had Mr Trump called the EU a "foe" on trade.