Donald Trump set for tense trade talks with EU's Jean-Claude Juncker

Donald Trump set for tense trade talks with EU's Jean-Claude Juncker

Donald Trump set for tense trade talks with EU's Jean-Claude Juncker

Grain elevator on June 13, 2018, in Blackstone, Illinois.

The White House has chose 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.

"$12 billion to aid farmers means the United States is essentially borrowing from China to offset the costs of tariffs imposed by China", Phillips said.

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".

President Donald Trump and European Union leaders announced Wednesday they have agreed to work toward "zero tariffs" and "zero subsidies" on non-automobile goods and would work to resolve USA tariffs on steel and aluminum imports that have roiled European markets.

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.

While Mr. Trump's aggressive trade policies with China have been celebrated by members of both the major political parties, his decision to impose tariffs on steel and aluminum imports from the EU, Canada and Mexico have been met with more skepticism.

He defended his aggressive stance again on Tuesday, saying it was bringing other governments to the negotiating table.

President Donald Trump said Wednesday that he and European Commission President Jean-Claude Juncker agreed to work toward eliminating tariffs and barriers on trade, reducing tensions for now in a brewing trade war.

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And in a pre-dawn tweet, he said, "Tariffs are the greatest!".

The temporary aid is more of an admission by the president of the "huge impact" the trade war is having on farmers, said Mark Watne, president of the North Dakota Farmers Union, which has more than 45,000 members in the state. It's as simple as that - and every body's talking! Remember, we are the "piggy bank" that's being robbed.

Brad Karmen, USDA assistant deputy administrator for farm programs, said payments under the Market Facilitation Program will be determined using a formula that considers actual production and estimated revenue loss.

Brussels has already retaliated against the steel and aluminum tariffs, imposing punitive duties on more than $3 billion of U.S. goods, including blue jeans, bourbon and motorcycles, as well as orange juice, rice and corn. "Are they truly going to get us a solution that will make things better?" "The programmes we are announcing today help ensure our nation's agriculture continues to feed the world and innovate to meet the demand", Mr Perdue said.

Unfortunately, America's hard-working agricultural producers have been treated unfairly by China's illegal trading practices and have taken a disproportionate hit when it comes to illegal retaliatory tariffs, he said.

The red, white and blue banners for U.S. President Donald Trump's second-term campaign are ready to ship, emblazoned with the words "Keep America Great!"

The aid funding may also mean that Trump's trade war will be going on for some time. Soybean prices were already falling, dropping 19 percent since early May to a 10-year low and corn is down more than 15 percent.

The Trump administration will provide financial assistance to farmers caught in a trade war initiated by the implementation of tariffs. "In the end, all sides would lose, also the Americans", he said.

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