Trump says China being 'vicious' by hitting United States farmers with tariffs
Jul 26 2018 by Lorena Waters
The details of the agreement with Europe are thin, there's still a trade deficit that Trump hates, and only a day ago the president tweeted that "tariffs are the greatest".
White House economic adviser Larry Kudlow said last week that Mr Juncker could be coming to Washington with a "very important free trade offer", but the commission dismissed that idea.
The Commerce Department could recommend new tariffs as early as September after an investigation into whether auto imports posed a risk to USA national security. He called the Trump's tariffs "government interference at its worst".
Juncker visited Washington on Wednesday to talk trade with Trump, who insisted on reciprocal trade relations with the EU.
Sen. Chuck Grassley, R-Iowa, said what farmers in his home state need "and this might be helpful in this direction- is they got to know that this thing isn't going to go on forever".
Trump's defense came after his administration announced a plan to provide $12 billion in emergency relief for farmers who have been slammed by the president's trade disputes with China and other countries.
Agriculture Secretary Sonny Perdue says the plan will help a broad number of farmers deal with the cost of "disruptive markets" as US trading partners have retaliated for President Donald Trump's tariffs on imported goods.
The Department of Agriculture aid plan includes three programs.
One program will help with food purchase and distribution while another will be specifically geared toward promoting trade, the article reported. He said that the USA also wants a "big beneficiary frankly to be the European Union so we think it can be good for everybody". Kevin McNew, an economist at Farmers Business Network, told Business Insider that China had bought at least 2.5 million metric tons of soybeans on forward contracts he expected to be canceled following the tariff implementation.
The response to the announcement was mixed, with many legislators criticizing the plan, calling it "welfare for farmers", and farm groups pleading for a more lasting solution.
This comes as President Donald Trump appears at the Veterans of Foreign Wars national convention in Kansas City in the heart of the nation's farm country. But the taxes also exact a toll on US businesses and consumers, which pay more for imported products. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that a year ago totaled $335 billion.
Trump in recent weeks has slapped billions of dollars in tariffs on products from other countries including China, Mexico, Canada and the EU. But, hopefully, it could lead to the conversation between the European Union and the United States, the heat being taken out of it slightly and perhaps a de-escalation.
If she had the chance to sit down in front of the USA president, Susan Danger said she will tell him: "President Trump, we're allies". "President Juncker is working to avert new tariffs".
If all of the tariffs that have been proposed take effect, they would bring down long-run U.S. GDP by 0.47 percent - about $118 billion - in the long term and cost more than 364,000 jobs, a new analysis from the Tax Foundation shows.
Farmers have been a particular target in the current clash over trade policy as other countries seek to retaliate for USA duties on Chinese goods as well as on steel and aluminum imports from the European Union, Canada and Mexico.
Trump has in recent months engaged in a multifront trade confrontation, imposing steep tariffs on steel, aluminum and tens of billions of dollars in Chinese goods, which sparked swift retaliation against key U.S. farm products like soy and pork. "It's as simple as that".
They still delivered that message but they also asked questions about the White House's time frame for completing the trade agreement with Europe and about whether this deal will lead to the completion of other major agreements, like a renegotiated North Atlantic Free Trade Agreement.