Trump Says China is Targeting U.S. Farmers, Being 'Vicious'
- Author: Anthony Vega Jul 26, 2018,
Jul 26, 2018, 2:16
Juncker, the president of the European Commission, and top EU trade official Cecilia Malmstrom agreed to work with the United States to lower industrial tariffs on both sides and increase US exports of liquefied natural gas and soybeans to Europe, the official said, according to the report.
Seated in the Oval Office, European Commission President Jean-Claude Juncker told Trump that the two trading partners were "allies, not enemies" and said they needed to work together to address recent frictions involving Trump's threats to impose tariffs on auto imports and EU plans to retaliate.
- "We are ready": Juncker' - While Juncker is set to make a last effort to talk Trump out of the auto tariffs, which would hit Germany's dominant carmakers hard, he warned on ZDF that if the United States moved ahead, "we are in a position to respond appropriately right away". Trump said. "Hope they do it, we are ready - but they won't!" he added. Trump wrote on Twitter. Remember, we are the "piggy bank" that's being robbed.
The U.S. Department of Agriculture announced a $12 billion three-part plan that would borrow money from the U.S. Treasury to pay producers of soybeans, sorghum, corn, wheat, cotton, dairy, and hogs.
A "trade promotion program" will work to find new markets for US agricultural products.
The threatened auto tariffs, which would deal a blow to Germany's mighty automobile industry, come on top of high levies already slapped by Trump on aluminium and steel imports. Bob Corker (R-Tenn.), calling the tariffs "a massive tax increase on American consumers and businesses" and the emergency aid "welfare to farmers".
"We hope that it doesn't come to that and that we can find a solution". Schinas said "This is an occasion to de-dramatize any potential tensions around trade and to engage in an open and constructive dialogue with our American partners".
Trump told Juncker at the White House that the United States "would be extremely pleased if there were no tariffs or trade barriers with the EU".
The campaign banners highlight a paradox in China-U.S. relations under Trump.
Republican Senator Ben Sasse, a frequent Trump critic, said the president's trade policies recalled a past of perilous economic instability.
"Every time I see a weak politician asking to stop Trade talks or the use of Tariffs to counter unfair Tariffs, I wonder, what can they be thinking?" "While there is plenty of disagreement, nobody, be they farmer, rancher, fiscal conservative, wants the federal government to replace trade with aid". After $34 billion in tariffs against China went into effect earlier this month, China responded with its own equivalent tariffs soon after, targeting US agricultural products including soy, corn, wheat, pork, poultry and more. "ASA continues to call for a longer-term strategy to alleviate mounting soybean surpluses and continued low prices, including a plan to remove the harmful tariffs".
President Donald Trump on Wednesday accused China of "vicious" tactics on trade as he prepared for tough negotiations with European leaders in an escalating trade battle among world powers.
Wisconsin Republican Sen. Ron Johnson said the unexpected move to manipulate trade through targeted subsidies 'is becoming more and more like a Soviet-type of economy'.
The program is expected to start taking effect around Labor Day.
The government's purchases of excess crops would not require congressional approval and would come through the Commodity Credit Corporation, a wing of the Agriculture Department.