Trump and top European leader agree to work toward zero tariffs

President Trump Holds News Conference In East Room Of White House

It's unclear how the need for such an aid package squares with Trump's boast on Tuesday that "tariffs are the greatest" or his insistence in March that "trade wards are good and easy to win".

'They are being vicious in what will be their failed attempt.

About one out of every three rows of USA soybeans is shipped to China, according to estimates. "Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs", Mr. Trump wrote.

"We hope that it doesn't come to that and that we can find a solution".

The move is quite clearly created to prop up a key sector of Trump's support base, as the fallout from his trade war starts to settle.

Farm-state Republicans say farmers want markets for their crops, not government payoffs for lost sales.

Administration officials said the aid will ease the pain farmers have felt as America's trading partners slapped tariffs on agricultural exports in response to the Trump administration's tariffs on steel and aluminum.

The Trump administration will provide financial assistance to farmers caught in a trade war initiated by the implementation of tariffs.

"Experience has shown that trade wars and all this tit-for-tat is devastating to the [agriculture] economy and drives prices down", said Richard Schlosser, who grows soybeans, corn and wheat in Edgeley, in southwest North Dakota.




Soybean prices - in the face of trade fears with China - have hovered around historic lows for months, leading Republican lawmakers in red states to raise red flags about the impact these tariffs could have on Trump country.

The two leaders diffused what had threatened to become a trade war between the two blocs, fuelled by tariffs set by Mr Trump on European steel and aluminium exports, and threats to expand the tariffs to cars.

Trade damage from such retaliation has impacted a host of USA commodities, including field crops like soybeans and sorghum, livestock products like milk and pork, and many fruits, nuts and other specialty crops, it said.

Details of the plan were not clear.The administration's proposal will rely on commodity support programs as well as the Agriculture Department's authority to stabilize farmers during times of turmoil, according to Politico. Rand Paul (R-Ky.) referred to the aid as "welfare for farmers". "We're trying to sort through a lot of the chaff to get down to the real heart of the issue to make this thing a little more equitable".

Some Republicans several months ago had warned against using the CCC as part of a trade-war related bailout, saying it could distort market forces and pay farmers for products they don't produce.

Senior officials at the Department of Agriculture described the aid as temporary relief for farmers impacted by retaliatory tariffs while US trade representative negotiate long-term deals. Although I am pleased that some steps are being taken to reduce the harm from these misguided tariffs on Iowa's farmers, we must not stop fighting for greater opportunity and market access.

And the general reaction from farmers, many of whom would benefit from the payments, is that it's a short-term fix that won't work in the long run.

"These tariffs are a tax on American consumers, and they're going to cost Alabama jobs", Jones said.

Related news:

Hot News

isis-killer-beheading-video-story-top Source Close to Demi Lovato Disputes Heroin Overdose Report
Jul 26, 2018 - 02:09
It's also said that Demi went through 20 different " sober companions" as she'd sneak drugs under their watch and became volatile. Lovato has struggled with substance abuse for years, and was feared to have relapsed in recent weeks.

isis-killer-beheading-video-story-top Johnson Shrugs Off Shoulder Injury To Win Second 2018 Title
Jul 25, 2018 - 02:54
The wet weather had a role to play on the baseline with erratic bounces and slips and slides at different passages in the match. After the first set went on serve for ten games, Johnson broke following an error filled game by Ramkumar.

isis-killer-beheading-video-story-top Iranian President Hassan Rouhani threatens to close Strait of Hormuz
Jul 25, 2018 - 02:38
Iranian officials have in the past threatened to block the Strait of Hormuz in retaliation for any hostile United States action. Israel has vigorously lobbied against the Iranian nuclear programme, and sees Iran as one of its main political adversaries.

isis-killer-beheading-video-story-top China refutes U.S. allegations of currency manipulation
Jul 25, 2018 - 02:13
In early trade Tuesday, the yield on 10-year Chinese government bonds jumped 5 basis points to 3.57 percent. In commodities, oil prices were held back by concern over the US-China trade tensions and increased supply.

isis-killer-beheading-video-story-top Marchionne replaced as FCA Group boss due to ill health
Jul 25, 2018 - 02:02
Marchionne's overarching goal had been to turn Ferrari into a luxury company beyond cars to further leverage the brand. Marchionne has stated in the past his desire to step down as FCA CEO sometime in 2019.

isis-killer-beheading-video-story-top Ocasio-Cortez's high profile spurs fears of Dem rift
Jul 25, 2018 - 01:57
A race for Kansas Democrats to watch lies just 180 miles north on Interstate 29. And Democratic Socialist candidates are popping up across the country.

isis-killer-beheading-video-story-top Tesla plunges after report suppliers asked to hand back cash
Jul 25, 2018 - 01:16
Tesla requested the supplier return what it calls a meaningful amount of money of its payments since 2016, according to the memo. Tesla's share price is now down 4.22 per cent, after hitting a low of 4.3 per cent in pre-market trading this morning.

isis-killer-beheading-video-story-top Raptors head sorry for DeRozan deal 'miscommunication'
Jul 24, 2018 - 02:57
On Friday, Raptors president Masai Ujiri issued an apology to DeRozan, calling the unexpected trade a "gap in miscommunication". It showed that whether or not Raptor fans are happy about getting Kawhi Leonard, they will miss their homegrown superstar.

isis-killer-beheading-video-story-top Mass shooting in Toronto, many said to be injured
Jul 24, 2018 - 02:14
Thirteen others were injured , ranging in ages from 10 to 59, Toronto Police Chief Mark Saunders said at a Monday news conference. Meanwhile, John Tulloch, another witness, said that he was getting out of his vehicle on the Danforth when he heard the gunshots.

isis-killer-beheading-video-story-top Trump says 'I gave up nothing' during Putin meeting
Jul 24, 2018 - 01:55
Trump had just days earlier confirmed his acceptance US intelligence conclusions about Russian interference. As President Donald Trump found himself under pressure from his own party this past week, Republican U.S.

isis-killer-beheading-video-story-top Johnny Manziel traded to Montreal Alouettes
Jul 24, 2018 - 01:35
On Sunday, the Tiger-Cats traded the former Heisman Trophy victor to the Montreal Alouettes , according to Duane Ford of TSN. That's despite the Tiger-Cats' head coach saying Manziel should reach the National Football League within two years.

isis-killer-beheading-video-story-top Duck boat accident survivors join hundreds at memorial service
Jul 24, 2018 - 01:20
The duck boat will then be transported to a secure facility, where it will undergo an inspection as part of the investigation. The report also highlighted a faulty water pump, a lack of maintenance, and less than rigorous Coast Guard oversight.

isis-killer-beheading-video-story-top Mondelez Recalls Ritz Crackers on Salmonella Concern
Jul 23, 2018 - 02:57
Recalled products should be thrown out or returned to the store where they were purchased, CFIA said in a food recall warning. The company that manufactures Ritz announced a recall of some of its products due to a risk of salmonella contamination.

isis-killer-beheading-video-story-top Spieth cards 65 to share lead with Schauffele and Kisner
Jul 23, 2018 - 01:41
Asked about becoming the first Englishman to win a British Open in 26 years, Fleetwood said, "It would be very special. His first two holes were steady, if nothing else, with Woods at par through three.

isis-killer-beheading-video-story-top Trump threatens tariffs on all US$505 billion of Chinese imports
Jul 23, 2018 - 01:15
Powell told lawmakers that "for now - the best way forward is to keep gradually raising the federal funds rate". The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals.