Home » Money

Republicans and farmers alarmed as Trump trade wars grow

28 July, 2018, 12:33 | Author: Sara Gill
  • West Tennessee farmers react to agricultural tariffs

Given that the EU has long pursued the use of non-tariff trade barriers even among close trading partners including the United States while European industries are among the most subsidised in the world, this represented an nearly complete capitulation to Donald Trump in the face of large scale tariffs on EU goods along with the added threat of a 20% tariff on Europe auto imports to the American market.

USA import tariffs of 25 per cent on steel and 10 per cent on aluminium imposed in March will remain in place during the talks, but Mr Juncker added: "It is the first time the Americans agreed to reassess the measure that they have taken in the steel and aluminium sector".

For instance, the USA said in May it had trade war with China on hold as both countries agreed to execute a framework for increasing US's agriculture and energy exports after high-level talks in the same month.

"I don't know a single person that has read this report that thinks it's a stupid fight to say China should not be able to come in and steal the future of American industry".

"The European Union is going to start nearly immediately to buy a soybeans from our farmers in the Midwest primarily", he said.

"And a lot of farmers aren't as well", Rep. David Young, R-Iowa, told CNN's Alisyn Camerota on "New Day", ahead of the President's visit to Iowa later in the day.

Juncker said he flat out rejected such a move, "cognizant of the situation in Europe, not only in France but also in Belgium, in Ireland, also in Luxembourg and anywhere else", he added.

"President Trump is escalating his trade rhetoric, threatening China and Europe with more tariffs on more goods if they don't agree to his terms".

Dr Patrick Cronin, senior director for the Asia-Pacific programme at the Centre for a New American Security, told The Straits Times: "Europe and the United States are back on the same team with respect to free and fair trade".


Mr. Trump also won a commitment to work together to reform the World Trade Organization to address some of his complaints about China on theft of US technology, the behavior of state-owned enterprises, and overcapacity in steel.

The money is aimed at shielding farmers from US President Donald Trump's disputes with China and other leading trading partners.

French Finance Minister Bruno Le Maire said that Paris was waiting for "acts of goodwill" from the US Administration.

"Take energy: In 2016, the first USA boat exporting American liquefied natural gas docked in the coast of Portugal". Now, the goal with the European Union is zero tariffs on industrial goods, with the exception of cars.

The US and European Union, which have a US$1 trillion bilateral trade relationship, would also work together to reform the WTO and reduce unfair trade practices.

Taken in totality, while Trump has achieved what looks to be a good deal with the European Union regarding trade, the US Congress is working simultaneously to calm Trump's trade war with China. According to the sources, during the talks, the parties discussed increasing the supply of USA liquefied natural gas to Europe. It responded with retaliatory tariffs on USA goods.

Trump had threatened large tariffs on European cars.

The administration on Tuesday unveiled the largest emergency farm aid package since 1998, dipping into a Great Depression-era program that will pay up to $12 billion starting in September to help USA farmers weather losses.

Agriculture Secretary Sonny Perdue said the impact of lower soy prices and the loss of Chinese buyers would likely cost farmers some $11 billion - an amount that will be covered via direct payments to farmers, government purchases of some products for food assistance programs and trade promotion.

Recommended:



Popular

Trump open to visiting Moscow after Putin invite: White House
It led to him reading out a clarification in which he said he had misspoken, mixing up the word "would" with "wouldn't" . Then National Security Adviser John Bolton said Wednesday that plans for a fall visit would be delayed until 2019.

Reports Hint At Reasons Behind Kawhi Leonard's Feud With The Spurs
Leonard possibly was going to use the event as a chance to showcase the status of his recovery. They've always been great to me.

Knife attack kills one Israeli, wounds two others in West Bank
The army said in a statement Wednesday it was "targeting Hamas military posts in the Gaza Strip" after soldiers were shot at. Defence Minister Avigdor Lieberman tweeted that expanding the Adam settlement was the "best answer to terrorism".

Trump to meet EU's Juncker in bid to resolve trade dispute
But in the joint conference with Juncker, Trump seemed markedly more optimistic about the future of US-European trade relations. The Trump administration on Tuesday announced a multibillion-dollar aid package for US farmers caught up in the trade tussle.

Greece declares state of emergency as at least 50 die in wildfires
Smoke fills the sky as members of the emergency services block a road near Kineta, west of Athens , Monday, July 23, 2018. By dawn Tuesday, fires were still burning around the capital, while others broke out elsewhere during the night.

Former Fiat Chrysler CEO Sergio Marchionne dies at 66
Some experts have cast doubt on the ability of Marchionne's successors to maintain the momentum he had built up over the years. As chief executive of Alusuisse, he hived off its drug business into Lonza group, and in three years had tripled profits.

House Republicans seek impeachment of DOJ's Rosenstein
Rosenstein, along with FBI Director Christopher Wray , faced dozens of angry Republicans at a House hearing last month. The DOJ has a legitimate lawful basis for keeping certain documents secret in a pending investigation.

Francesco Molinari stays calm as Tiger-mania grips Carnoustie
And then, he grabbed a share of the lead when Schauffele bogeyed the sixth and Spieth doubled. "I don't think so", Spieth said. Amidst a bogey barrage from other contenders, Molinari's round of 16 pars and two birdies helped him rise to the top.

Tour de France 2018: Philippe Gilbert rode 60km with broken kneecap
Stephane Mahe/Reuters Team Sky rider Geraint Thomas of Britain, wearing the overall leader's yellow jersey, cleans his eyes. A chaotic 16th stage of the Tour de France has seen a number of leading riders left needing treatment for tear gas.

Chance of strong to severe storms late this afternoon into tonight
Please be as descriptive as possible and also include the location (town/city) where the photo or video was taken. These storms will bring damaging winds and large hail with them, and an isolated tornado can not be ruled out.