The leaders agreed to "launch a new phase" in the relationship and "to work together towards zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods", Trump said.
Trump said the meeting successfully launched a new phase in the U.S.'s relationship with the European Union, which Trump has characterized as a problem for the American economy. Juncker said the European Union "can import more soybeans from the USA, and it will be done".
"I had one intention today, to make a deal, and we made a deal".
Trump on Wednesday said they would try to "resolve" steel and aluminum tariffs he imposed earlier this year and retaliatory duties the European Union levied in response.
While declaring it as a "very big day for free and fair trade",...
Germany's economy minister described the agreement - which means Washington will not follow through with a threat to impose tariffs on autos that would hurt the dominant German vehicle industry - as a "breakthrough" that "can avoid trade war".
US President Donald Trump is due to meet on Wednesday (July 25) with European Commission President Jean-Claude Juncker in a bid to resolve a festering trade dispute between the two key economies.
"This was a good and constructive meeting".
Mr Trump, speaking at an event in Kansas City on Tuesday, reaffirmed his support for tariffs and pledged that "farmers will be the biggest beneficiary".More news: Toronto police identify 10 year old girl killed in mass shooting
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'When you have people snipping at your heels during a negotiation, it will only take longer to make a deal, and the deal will never be as good as it could have been with unity, ' Trump wrote.
"We are price takers they say and not price makers, so here we are in that situation", Lucas Heinen, President of the Kansas Soybean Association said.
He has slapped taxes on imported steel and aluminum, saying they pose a threat to USA national security. His words suggested he was open to something resembling the Transatlantic Trade and Investment Partnership, a proposed U.S. -Europe agreement on which negotiations have stopped.
"It's encouraging that they're talking about freer trade rather than trade barriers and an escalating tariff war", said Rufus Yerxa, president of the National Foreign Trade Council and a former USA trade official.
The EU had threatened to impose retaliatory tariffs on $20 billion of United States goods if the talks failed. "Our emphasis continues to be for a swift and sure end to the trade war and tariffs impacting American agriculture".
The president insists his tough trade policies will pay off long-term, forcing other countries to concede and remove tariffs on USA goods.
The trade "deal" follows the script of the ballyhooed North Korean nuclear "deal" from last month.
Pennsylvania farmers greeted the Trump Administration's announcement Tuesday of $12 billion in emergency aid to agriculture with mixed emotions.
Perdue said the farmer assistance program will pay farmers directly for their trade-related losses.
USA import tariffs of 25% on steel and 10% on aluminium, implemented in March, will remain in place during the talks.