Published: Tue, July 24, 2018
Money | By Ethel Goodwin

Donald Trump: 'Tariffs are the greatest!'

Donald Trump: 'Tariffs are the greatest!'

The U.S. Agriculture Department on Tuesday plans to announce a $12 billion package of emergency aid for farmers caught in the midst of President Trump's escalating trade war, two people briefed on the plan said, the latest sign that growing tensions between the United States and other countries will not end soon....

Some of the companies invited to set up their products inside the White House say they were both surprised and honored to have been asked to participate.

"Trump wrote on Twitter Tuesday that the U.S.is a "'piggy bank' that's being robbed".

He said that tariffs his administration has imposed are working to bring other countries to the negotiating table.

Trump is set to visit Kansas City, Missouri, on Tuesday and will travel to IL and Iowa later in the week - all states that are beginning to see the impact of US and retaliatory tariffs. Responding in kind, Beijing slapped tariffs worth $34 billion on 545 American goods.

Trump has threatened to place penalty taxes on up to $500 billion in products imported from China, a move that would dramatically ratchet up the stakes in the trade dispute involving the globe's biggest economies. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that a year ago totalled $335 billion. "For decades, we've seen tariffs, we've seen barriers to selling product, and it needs to be fixed".

During a Monday event at the White House featuring American-made goods, Trump displayed a green hat that read, "Make Our Farmers Great Again".

Using government power to dig economic holes and then fill them up: isn't that what it means to Make America Great Again?

Trump's message comes ahead of his meeting with European Commission President Jean-Claude Juncker in Washington, D.C. on Wednesday.

In the past four months, Trump has imposed tariffs against steel and aluminum imports from China, Canada, Mexico, the European Union, Japan, and a range of other countries, and he is threatening to broaden the scope of the tariffs to cars and uranium imports, among other things.

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