Trump planning emergency aid to farmers affected by tariffs

Trump planning emergency aid to farmers affected by tariffs

Trump has placed tariffs on imported steel and aluminum, saying they pose a threat to USA national security, an argument that allies such as the European Union and Canada reject.

Thus far, Trump's administration has already enacted sweeping tariffs on USA imports of steel, aluminum, washing machines, and solar-energy equipment while targeting China specifically with tariffs on an additional $34 billion worth of goods.

With congressional elections coming soon, the government action underscored administration concern about damage to U.S. farmers from Mr Trump's trade tariffs and the potential for losing House and Senate seats in the Midwest and elsewhere.

"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 two leaders also said they would work toward "zero" tariffs on industrial goods, according to Mr Trump. "We also will resolve the steel and aluminum tariff issues, and we will resolve the retaliatory tariffs".

She added that she did not think the United States proposal to drop tariffs, barriers and subsidies was serious, pointing out that the U.S. has laws, such as the Buy American Act, protecting its industries and agricultural policies supporting its farmers.

President Trump said European Commission President Jean-Claude Juncker have agreed to work towards "zero" tariffs, and improving their trade relationship, listing specifics. But he said reaching a detailed trade agreement with the European Union would likely prove hard.

Economists have said that Trump's tariff fights with Europe and China will lead to trade wars that will raise prices for consumers worldwide.

Donald Trump’s big European Union trade win is no more than rhetoric
The EU commission chief betrayed some scepticism in a remark at a speech in the United States capital later the same day. John Hoeven, R-N.D., said Trump and U.S.

Tour de France Stage 19 results: Primoz Roglic wins
Peter Sagan has said he will continue in the Tour de France despite his heavy crash on a descent during stage 17. It will be a big test (for me) but I think it's more one for the team to control it most of the day.

ISIS Commits Massacre in Syria’s Sweida as Toll Rises
The head of the Sweida provincial health authority told the pro-Damascus Sham FM 75 Islamic State fighters had also been killed. Omar, a resident of Sweida city, told AFP explosions began rocking the city around 5:30 am local time (0230 GMT).

The government announced a $12 billion plan Tuesday to assist farmers who have been hurt by President Donald Trump's trade disputes with China and other trading partners. He said they made improvements on security and the economy, saying the economic reforms are those in which "both of us will win".

DBV, an association of German farmers, said it welcomed de-escalation in the trade dispute but did not expect changes in soybean trade. Currently, the European Union places a 10 percent tariff on USA vehicle imports, while the United States has a 2.5 percent tariff on European cars.

The White House has already imposed a 25% tariff on $34 billion worth of Chinese products and, three weeks ago, threatened an additional round worth $16 billion.

Sonny Perdue, secretary of the U.S. Department of Agriculture, said the $12 billion relief package will be financed through the USDA's Commodity Credit Corporation, a mechanism that will not require congressional approval.

Commerce Secretary Wilbur Ross, briefing reporters aboard Air Force One, said more jobs have been created by the steel and aluminum tariffs than are being lost and he said the tariffs were instrumental in the European Union talks.

"I don't think our farmers and ranchers long-term want these programs".

Responding to farm groups and the Republican discontent, administration officials said they have been working since April on a short-term plan to shore up slipping prices for soybeans, pork and other crops hit with retaliatory tariffs from China.

Related Articles