Published: Thu, July 26, 2018
Markets | By Terence Owen

Trump Announces Plan To Work With EU To Strengthen Trade Relationship

Trump Announces Plan To Work With EU To Strengthen Trade Relationship

President Donald Trump fired back at critics of his approach to trade and tariffs on July 25 a day after politicians attacked his administration's plan to give $12 billion in aid to American farmers hurt by retaliatory tariffs.

'They are being vicious in what will be their failed attempt. "We were being nice - until now!", he wrote.

"We are close partners, allies - not enemies". He warned that those who pursue "economic hegemony" will "only end up hurting themselves".

"We agreed today, first of all, to work together toward zero tariffs, zero nontariff barriers and zero subsidies on non-auto industrial goods", Trump said during his remarks in the Rose Garden as he stood next European Commission President Jean-Claude Juncker.

The controversial move had left leaders throughout the bloc furious, with the European Union threatening to retaliate with heavy tariffs of its own on the US.

But at home, Trump is facing increasing criticism as consumers, farmers and businesses take a hit from the retaliation to the raft of U.S. tariffs on steel, aluminum, and tens of billions of dollars in products from China that he has imposed in recent weeks. Both the United States and European Union drop all Tariffs, Barriers and Subsidies!

"That would finally be called Free Market and Fair Trade!" "Are they truly going to get us a solution that will make things better?" On Tuesday, the White House put the word out that its efforts will go well beyond hats, however-it's rolling out $12 billion in emergency aid to farmers, especially those dealing with dairy, pork, and soybeans, reports CNBC. "The farm economy can not take this and we need to get back to work and increase these exports".

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The president's bailout program drew widespread criticism from farm state lawmakers of both parties, including Wisconsin Republican Senator Ron Johnson who said farmers "want trade, not aid".

"If he continues to demand tariff increases as he has been, or if he continues to agree with those who are against China, I definitely would not be able to accept (more orders)", she said.

"I know that Trump's tariffs targeting China will have some effect, but we're not anxious at all, since we're producing foreign flags every single day", she said. "You've got to treat everybody the same". "While there is plenty of disagreement, nobody, be they farmer, rancher, fiscal conservative, wants the federal government to replace trade with aid". They are not there to offset bad policy.

On Twitter, Trump says people "snipping at your heels during a negotiation" will only delay the process.

'Negotiations are going really well, be cool. "The end result will be worth it!" After $34 billion in tariffs against China went into effect earlier this month, China responded with its own equivalent tariffs soon after, targeting USA agricultural products including soy, corn, wheat, pork, poultry and more.

The second is the Food Purchase and Distribution Program, which will buy surplus fruit, nuts, beef, pork and milk to distribute to US food banks and nutrition programs. They said they believed that there are few signs talks among senior officials could be resumed soon. Soybean prices were already falling, dropping 19 percent since early May to a 10-year low and corn is down more than 15 percent.

Perdue said the department estimated damage to the agriculture sector at $11 billion. "China made $517 Billion on us past year". "I don't think threats bring us closer to a solution", he told German public TV station ARD on Tuesday.

Associated Press writers Jill Colvin, Kevin Freking and Matthew Daly in Washington, James MacPherson in Bismarck, North Dakota, and Roxana Hegeman in Wichita, Kansas, contributed.

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