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Agriculture Groups Laud Trump Plan to Aid Farmers

30 July, 2018, 07:10 | Author: Melinda Barton
  • Trump administration announces $12 billion 'bailout' for farmers

President Donald Trump said Wednesday he and European Commission President Jean-Claude Juncker have agreed to new talks on the possibility of eliminating trade barriers between the United States and Europe.

Through the deal, the Trump administration seeks to reduce trade barriers to lower the $152 billion USA deficit in merchandise trade with the EU, while European counterparts want an end to repeated threats of new tariffs and other measures to restrict access to the US market.

His state has also been affected by retaliatory tariffs from the European Union on bourbon, and Barr said he didn't feel satisfied by the amount of specificity in Thursday's briefing on whether that would also be resolved soon.

His Juncker, meeting, and the EU's agreement to import more natural gas and agricultural products from the USA, is therefore being portrayed as a victory by his team, evidence that the controversial tactics of this deal-making President have paid off. "We can also do stupid".

Juncker said the European Union already imports 35 percent of its natural gas from US producers, but will work to buy more.

Whatever progress was achieved on Wednesday could provide some relief for U.S. carmakers.

He also pointed out that the footwear industry is well-accustomed to the effects of tariffs, since it's already one of the most heavily taxed categories coming into the U.S. General Motors had slashed its outlook, and shares of Ford and auto parts companies had fallen.

Mary Lovely, a Syracuse University economist who studies trade, said, "The Chinese are not going to be buying our soybeans, so nearly by musical chairs our soybeans are going to Europe". "China made $517 Billion on us previous year".

Some analysts said the two sides did little more than agree to more talks, and that Trump was probably responding to concerns by Republicans that they will lose midterm voters over the president's trade policies.

While the USA president can claim his aggressive approach is working, consumers, farmers and businesses are feeling the pain from the retaliatory measures imposed to counter the raft of US tariffs on steel, aluminum and tens of billions of dollars in products from China put in place in recent weeks. Pat Roberts, R-Kan.

"We shouldn't have a policy that creates economic distress and then implement FDR-style New Deal era programs to remedy problems of our own creation", said Rep. Andy Barr, R-Ky. That's what has been happening in the arena of worldwide trade, and President Donald Trump is rightly calling out our competitors for unfair play. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that previous year totalled 335 billion dollars (£254 billion).

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

But in capitals across Europe, a number of national officials echoed that sentiment, heralding the meeting as having prevented a trade war.

Trump has also accused Beijing of manipulating its yuan currency to give its exporters an edge, a charge rejected by China. The European Union has frequently appraised the Trump administration that it would be a happy moment to revitalize trade talks. Last week, Trump said he was ready to impose a "tremendous retribution" against the EU.



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