US and European Union agree to work on trade barriers

President Donald Trump

On Wednesday morning, President Trump tweeted that China is "vicious" on trade and said it's targeting US farmers specifically because "they know I love & respect" them.

The Department of Agriculture aid plan includes three programs.

Trump has said current trade policy disadvantages US farmers and manufacturers, and supporters say USA tariffs slapped on billions of dollars of imports are a necessary step to negotiate better deals. That American farmers have been hard hit is no accident. "While there is plenty of disagreement, nobody, be they farmer, rancher, fiscal conservative, wants the federal government to replace trade with aid".

It's not just those inside his own administration who oppose the idea either.

"Absolutely farmers want trade", he said.

"We are just kind of being played", said Tom Giessel, who was cultivating his fields when he stopped his tractor to take a cell phone call from a reporter seeking his reaction to the plan. "China made $517 Billion on us a year ago".

The trips apparently failed to bring about a ceasefire with China over soaring trade frictions amid growing animosity, which have boiled into a trade war between the world's two largest economies. "Hope they do it, we are ready - but they won't!"

Zippy Duvall, president of the American Farm Bureau Federation, said the $12 billion package provides a welcome measure of temporary relief, but added they can not overstate the dire consequences that farmers and ranchers are facing with lost export markets. "At the end of the line, producers are going to be producing them at a loss".

"The administration creates a problem for farmers, and now they need to put them on welfare".

Chinese President Xi Jinping (shee jihn-peeng) says the world faces "a choice between cooperation and confrontation" in remarks that criticized escalating US tariffs on goods from China and other major trading partners. The Trump administration said Tuesday it would offer $12 billion in emergency funding for farmers hurt by the trade tiff - though even that plan drew scorn in local media.

"To repeat, this damage is self-inflicted, so the Administration is right to take steps to address it, but the next step should be ending the trade war", the statement read.




As part of the initiative to be announced on Tuesday, the USDA is expected to draw on the financial resources of a program known as the Commodity Credit Corporation, which helps shore up US farmers by buying their crops.

The money comes from the Commodity Credit Corporation, a USDA agency founded in 1933. It has authority to borrow up to $30 billion from the Treasury at any one time to "stabilize, support, and protect farm income and prices". The Senate has several key races in agriculture-dependent states like Missouri, North Dakota, and in this November.

The meeting comes at a critical time for the trade relationship between the European Union and the U.S. After the 10 percent tariff on aluminum and 25 percent on steel, The Washington Post reported that Trump is considering slapping a 25 percent tariff on automobiles, an idea that has drawn fierce criticism from European Union officials - from where many U.S. vehicle imports originate. The groups urged the Trump administration to "recognize this self-inflicted damage and end the trade war immediately".

Ebert is waiting to see the details of the aid package.

"Tariffs are the greatest!", he tweeted. It's as simple as that - and everybody's talking!

Republican Senator Ben Sasse of Nebraska, a Trump critic, likened it to "golden crutches" to make up for a trade war that will cost farmers far more. Rand Paul (R-KY) tweeted.

Other Republicans backed the president. Bob Corker (R-TN) said, according to the Post.

Republican lawmakers from farm states said they expected to meet Wednesday with Mr. Trump to discuss a pending farm bill and farm aid.

Trump claimed that after threatening the European Union with tariffs on Mercedes-Benz and BMW autos, they replied: "When can we, ah, show up?"

"This is a awful idea", Holtz-Eakin told The Washington Post. I don't fault the President for trying to get a better deal for Americans, but it's not fair to expect farmers to bear the brunt of retaliation for the entire country in the meantime. They are not there to offset bad policy. "It's a misuse of the programs". "But $12 billion payoff won't fix trade policy", the Kansas City Star editorialized. "Eastern Washington farmers, businesses and consumers are being hurt by #TradeWar", Brown wrote on Twitter.

"Tariffs are not the answer".

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