Published: Wed, July 25, 2018
Money | By Ethel Goodwin

Europeans offer Trump 2 options to defuse trade war

Europeans offer Trump 2 options to defuse trade war

The USDA said in a press release the $12 billion is in line to offset the estimated $11 billion impact of the retaliatory tariffs.

Agriculture Secretary Sonny Perdue said on Tuesday that the emergency relief aid is a firm statement that other nations can not bully US agricultural producers to force the administration to back down from its hardline stance. "This administration will not stand by while our hard-working agricultural producers bear the brunt of unfriendly and illegal tariffs".

Juncker told Trump during a meeting in the Oval Office that the trade talks are important. "Just be a little patient".

China has responded with its own tariffs.

Ohio's Republican governor is blasting President Donald Trump's tariffs and his plan to provide $12 billion in direct payments to farmers and ranchers hurt by foreign retaliation.

Many farmers remain critical of President Donald Trump's tariffs and the damage done to commodity prices and markets but were appreciative Tuesday that he offered to provide some cash to help offset their losses. Remember, we are the "piggy bank" that's being robbed. The Trump administration is trying to use the 232 process to make the case there is a "national security" risk here, something many trade law experts say is not convincing for cars and trucks. "What we need is certainty when it comes to our trade relationships".

European Union officials have managed expectations about the progress that Juncker is likely to make with Trump.

The overtures are a last-ditch attempt to persuade him from imposing tariffs on European auto exports to the US, in what could deal a serious blow to the bloc's economy. Lawmakers from both parties do too and, perhaps more importantly, the USA automakers who would be the ostensible beneficiaries of the tariffs have come out against the idea.

But Australia's National Farmer's Federation (NFF) President Tony Maher said it is a blow to drought-stricken farmers in this country.

Industry groups that represent agriculture, as well as politicians from agricultural states, have criticised the tariffs.

The total bailout is reportedly about $12 billion, and the official announcement - which the network said would likely target dairy, pork and soy products - could come as soon as Tuesday afternoon, hours after the president's tweet. "They are taxes, paid by Americans, that harm consumers, workers, and companies".

The Trump administration imposed tariffs of 25% on about $34 billion worth of Chinese goods earlier this month and has another $16 billion pending. House Minority Whip Steny Hoyer said Tuesday that Trump's tariff policies were not "well-thought-out" and the effects were a "mixed bag" of positive and negative effects.

The United States has never before offered aid of this scale for the impact of a trade dispute, said Scott Irwin, agricultural economist with the University of IL. "Scattershot actions which adversely affected our trade relations throughout the world".

A better deal for Americans, better trade agreements.

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

This will help producers of soy, sorghum, corn, wheat, pork, dairy, fruit, rice and nuts, all products hit by tariffs imposed in response to United States actions.

"China is targeting our farmers, who they know I love & respect, as a way of getting me to continue allowing them to take advantage of the U.S.", Trump tweeted.

Under the new plan, the U.S. government will provide direct financial assistance to farmers, as well as do things like buy up surplus agricultural products and put them into low-income food assistance programs.

Kasich says that will only compound tariff damage.

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