Published: Thu, July 26, 2018
Finance | By Cynthia Curry

Made in China: Trump re-election flags may get burned by his tariffs

Made in China: Trump re-election flags may get burned by his tariffs

Declaring a "new phase" in relations, Mr Trump said the U.S. and European Union agreed to "work together toward zero tariffs" on non-auto industrial goods, while the European Union would import more American natural gas and soybeans.

President Donald Trump proclaimed that "Tariffs are the greatest!" in warning USA trade partners that he'll impose more sanctions unless they negotiate a "fair deal" as negotiations with European officials are to get underway at the White House.

U.S. Department of Commerce Secretary Wilbur Ross discusses President Trump's successful meeting with European Commission President Jean-Claude Juncker over trade.

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

The aid is meant to protect the industry as countries raise taxes on U.S. products such as soybeans in response to the president's new tariffs.

The commission chief even risked saying that Trump had made "a major concession" on tariffs, testing the president's thin skin, the Reuters news agency reported.

The Trump administration says it will provide $12 billion in emergency relief to ease the pain of American farmers slammed by President Donald Trump's escalating trade disputes with China and other countries. Washington has since threatened tariffs on another $200 billion in Chinese exports, then upped that to $500 billion, prompting Beijing to vow further retaliation. "If tariffs punish farmers, the answer is not welfare for farmers - the answer is remove the tariffs".

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They expressed alarm at Trump's decision to lash out at European allies at last week's North Atlantic Treaty Organisation summit. President Donald Trump listed the European Union along with China and Russian Federation as America's greatest foes.

"Today's announcement demonstrates that bilateral negotiations are a more effective approach to resolving trade barriers, not increasing tariffs", the alliance said in a statement.

If she had the chance to sit down in front of the United States president, Susan Danger said she will tell him: "President Trump, we're allies".

Mr. Trump told CBS News' Jeff Glor earlier this month that he considers the European Union a "foe" because of how the collection of nations has treated the USA on trade.

Farm groups generally have stood by Trump during the trade war although anxiety has begun to rise in farm country.

He also said they pledged that both the US and European Union would appoint representatives to negotiations on the details on the new agreement "right now".

He told reporters he entered Wednesday's meeting with the intention of reaching an agreement with Trump. "We can also do stupid". "The uncertainty being created over the last couple months is hurting us a lot, our prices are down approximately 20 percent from prior to the tariffs going on to where they are now", said Danielson. "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 illegal retaliatory tariffs". He also spoke of the soybean import increase and working toward reforms of the WTO.

Additionally, USDA will use CCC Charter Act and other authorities to implement a Food Purchase and Distribution Program through the Agricultural Marketing Service to purchase "unexpected surplus of affected commodities such as fruits, nuts, rice, legumes, beef, pork and milk for distribution to food banks and other nutrition programs".

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