President Juncker and President Trump have reached an important, but early stage, agreement to liberalize trade between the EU and the U.S. While unlikely to be as extensive as the defunct TTIP from the Obama administration it could cover all industrial products outside of autos as well as cutting trade barriers in agriculture, healthcare and energy. That should help reduce the EU’s $160 billion trade surplus vs. the U.S. which has been central to Trump administration’s trade policy. Challenges will abound though. The EU’s GMO rules may limit the increase in imports of soy...