Trump suggests cutting all tariffs ahead of key meeting with EU

President Donald Trump

Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs.

As he embarks on a multi-state trip through parts of the country hit heavily by ongoing trade disputes, President Donald Trump is preparing to direct billions of dollars to farmers whose crops have been hurt by tariffs. "They are being vicious in what will be their failed attempt".

Earlier Tuesday, the US president declared "Tariffs are the greatest!" and threatened to impose additional penalties on USA trading partners. He warned that those who pursue "economic hegemony" will "only end up hurting themselves".

Trump has placed tariffs on imported steel and aluminum, saying they pose a threat to US national security, an argument that the European Union and Canada rejects.

But at home, Trump is facing increasing criticism as consumers, farmers and businesses take a hit from the retaliation to the raft of United States tariffs on steel, aluminum, and tens of billions of dollars in products from China that he has imposed in recent weeks. Mr Trump had threatened to impose 25% tariffs on European auto imports.

About one out of every three rows of US soybeans is shipped to China, according to estimates.

As the tit-for-tat continued, the Trump administration rolled out a new $12 billion plan to provide subsidies - inviting new criticism from free market conservatives as well as lawmakers who blame Trump's trade war for the tariffs. But, they are expecting us to offset the cost of the (50 percent) tariff.

Farmers have suffered from retaliatory tariffs on farm goods such as pork, beef, and soybeans following Trump's imposition of tariffs.

"Ultimately we want to get our revenue from the markets", said Tom Bernhardt, who farms wheat, corn, sunflowers, and soybeans in Linton.

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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.

The government's action points to administration concern about damage to US farmers from Trump's trade tariffs and the potential for losing House and Senate seats in the Midwest and elsewhere.

Sen. Charles Grassley (R-IA) said the administration's move was "encouraging for the short term".

WASHINGTON-President Donald Trump slammed critics of his trade policies on Wednesday, warning they are undermining his negotiating position while American farmers are being "ripped off".

Juncker, joined by EU trade chief Cecilia Malmstrom, was expected to raise the possibility of talks between major auto-exporting countries aimed at reducing tariffs on the auto trade worldwide, according to a senior European official who spoke on condition of anonymity to describe internal deliberations.

Sen. Bob Corker, R-Tenn., said the administration was putting farmers on welfare. Though the Republican said they would happily welcome the political benefits that will come from the farm aid plan, they anxious the damage may already be done with growers whose farm prices and commodity prices have shrunk in recent months. "This bailout compounds bad policy with more bad policy". No weakness!' Trump wrote in the first of a pair of tweets Wednesday morning. "The end result will be worth it!"

Rules for the programs have not been fully developed, and an exact date for rollout has not been determined, though Ibach said officials are targeting Labor Day.

This will help producers of soy, sorghum, corn, wheat, pork, dairy, fruit, rice and nuts, all products hit by tariffs imposed in response to U.S. actions.

The government's purchases of excess crops would not require congressional approval and would come through the Commodity Credit Corporation, a wing of the Agriculture Department.

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