Trump greets European Union chief, says United States seeks 'level playing field' on trade

Trump greets European Union chief, says United States seeks 'level playing field' on trade

Troy Powers
July 26, 2018

The White House has made a decision to direct $12 billion in emergency aid to American farmers, to help take the sting out of the trade war that President Donald Trump started.

Under the three USDA aid programs, farmers will either receive direct payments or sell their excess production to the government, Perdue said. The second second program will buy surplus products, including fruit, nuts, and dairy, and distribute them to food pantries and other programs.

"I do not believe it has ever been demonstrated that the deficit is a result of unfair trade practices", the official said, speaking anonymously to brief reporters on the coming meeting with Mr. Juncker.

Under the terms of the Commodity Credit Corporation, the aid package does not require congressional approval.

Earlier on Tuesday, Nebraska Sen. Ben Sasse, a Republican, criticized what he called a bailout, and the administration's underlying trade policy. The company has said it can not absorb the total cost increases imposed by American tariffs.

EU Trade Commissioner Cecilia Malmstrom, who will accompany Mr Juncker, expressed hope for a "de-escalation" of the tensions, but said the EU is drawing up a list of more United States products that could be hit with retaliatory duties if the trip fails. The program can use up to $30 billion in funding from the Treasury Department to "stabilize, support, and protect farm income and prices".

The European Union has warned that it will retaliate with tariffs on products worth $20 billion if Trump puts duties on cars and auto parts from Europe.

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. At a minimum, tariffs should be "reciprocal in nature", the president added.

Soybeans are down 10.22% this year through Tuesday.

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

The Trump administration announced it will provide $12 billion in emergency relief to ease the pain of American farmers slammed by Presi

"This administration's tariffs and bailouts aren't going to make America great again, they're just going to make it 1929 again", he said in a statement.

Watne prefers better crop subsidies and other revenue-loss protections in the massive federal farm bill that's being hammered out in a House-Senate conference committee to guard against retaliatory tariffs on US agriculture exports.

China is the biggest buyer of USA soybeans, importing more than $12.4 billion worth of the oil seed in 2017, according to the Peterson Institute for International Economics.

But any trade dispute involving automobiles would have major ramifications for both economies.

The Trump administration has imposed tariffs on $34 billion worth of goods from China. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that previous year totaled $335 billion.

"Ultimately we want to get our revenue from the markets", said Tom Bernhardt, who farms wheat, corn, sunflowers, and soybeans in Linton.

US President Donald Trump insisted Tuesday (24 July) that imposing tariffs forces other countries to negotiate with Washington, a day before the European Union chief visits trying to prevent an all-out trade war.

Responding to farm groups and Republican criticism on Capitol Hill, the administration has been working for months on a plan to shore up slipping prices for soybeans, pork and other crops hit with retaliatory tariffs from China.

"USDA will not stand by while our hard-working agricultural producers bear the brunt of unfriendly tariffs enacted by foreign nations". It's as simple as that - and every body's talking! "All will be Great!" Remember, we are the "piggy bank" that's being robbed.

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