Published: Sat, July 28, 2018
Money | By Wilma Wheeler

Trump, Juncker announce deal pulling back from US-EU trade war

Trump, Juncker announce deal pulling back from US-EU trade war

His administration on Tuesday announced up to $12 billion in emergency aid to farmers who are facing retaliatory tariffs from Mexico and China, among other countries.

Trump noted that he would be meeting Wednesday with European officials, including European Commission President Jean-Claude Juncker. Juncker said the European Union "can import more soybeans from the US, and it will be done". "Indiana Farmers Feeling Impact Of Tariffs, Fear More", Indiana's NPR affiliate reported. "The actions today are a firm statement that other nations can not bully our agricultural producers to force the United States to cave in", Agriculture Secretary Sonny Perdue told reporters.

"Tariffs are taxes that punish American consumers and producers". "Just be a little patient".

Mr Trump tweeted that China was specifically targeting United States farmers with retaliatory tariffs because "they know I love & respect" them.

Trump has also imposed tariffs on $34 billion of Chinese imports - a figure he has threatened to raise to $500 billion - in a dispute over Beijing's aggressive drive to supplant US technological dominance.

"You have a awful policy that sends farmers to the poor house and puts them on welfare", he said.

"It doesn't set the scene for a very fruitful meeting", she said, adding that she only expects the meeting to provide "some sort of language that's mutually accepted".

The president tweeted his view on Tuesday that 'tarrifs are the greatest!'

"We should talk about reducing tariffs instead of increasing them", Mr Juncker said, as Mr Trump nodded. "They can compete with anybody if we can get free and fair trade".

"He likes tariffs", said William Reinsch, a former USA trade official under President Bill Clinton now at the Center for Strategic and International Studies.

Treasury Secretary Steven Mnuchin said Thursday addressing steel and aluminum tariffs and counter tariffs would be covered in the first phase of talks between the US and the EU.

The European Union has its own tariffs on USA products.

During a speech to the Veterans of Foreign Wars in Kansas City, Mo., President Trump said his tariffs are working and bringing nations to the bargaining table. "If the problem is the deficit, then we can't fix it", the official said. Sen. In addition to tariffs on aluminum and steel, Trump has imposed tariffs on washing machines, solar panels and a wide range of Chinese products.

"Over the years the United States has been losing hundreds of billions of dollars with the European Union and we just wanted it to be a level playing field for farmers, manufacturers, for everybody", Trump said. "America's farmers don't want to be paid to lose - they want to win by feeding the world", Sasse said in a statement. "This is the way it's going to go - make our farmers great again".

The administration has so far downplayed the impact of Trump's ratcheting up of trade tensions on United States producers by emphasizing the long-term benefits of his efforts to even out USA trade relationships.

Options activity has been known to spike before the public announcement of market-moving news and the U.S. Securities and Exchange Commission has pursued enforcement actions when the activity has been determined to be insider trading involving options.

"Well, I think we have a lot of foes. Also, they will be buying vast amounts of LNG!". Trump wore a similar hat at an event on Monday highlighting American-made goods.

The two leaders also said they would work toward "zero" tariffs on industrial goods, according to Trump.

In the Midwest, much of the local news coverage has focused on soybean farmers.

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