Donald Trump Says US And EU Will Work Towards 'Zero Tariffs' Trade
Jul 28 2018
Trump is also set to meet Wednesday with European Commission President Jean-Claude Juncker. The European Union will also import more US soybeans and liquified natural gas, or LNG, both leaders said. Farmers in Iowa alone could lose as much as $624 million on soybean shipments to China, Donnelle Eller, an agriculture reporter with the Des Moines Register, told CBSN last month. "This administration will not stand by while our hard-working agricultural producers bear the brunt of unfriendly and illegal tariffs". But Trump tweeted Wednesday urged concerned parties to "be cool". "Just be a little patient".
Trump, who had threatenedtariffs on European auto imports, indicated he would hold off on further tariffs while talks are underway, and that the USA would talk about how to handle existing tariffs on aluminum and steel. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that a year ago totalled $335 billion.
Though he declined to say whether he supports the policy, Hoeven predicted it would make "darn clear to the people we're negotiating with that we intend to get better trade deals".
European Commission president Jean-Claude Juncker made a hastily called Rose Garden appearance with Mr Trump after the talks.
Export statistics for May showed a surge of stockpiling of USA goods by Chinese importers, particularly crude oil and soybeans, as they raced to buy before Beijing's retaliatory tariffs took effect, driving up costs.
The imposition of punishing tariffs on imported goods has been a favored tactic by Trump, but it has prompted US partners to retaliate, creating risks for the economy. And they would continue to hit USA trading partners like Canada, Mexico and Japan even if the US and the European Union cut a deal.
During a recent European trip, Trump referred to the EU as a "foe, what they do to us in trade". "If the problem is the deficit, then we can't fix it", the official said. Sen. The administration recently announced a $12 billion temporary aid package for farmers - including soybean producers - dealing with the impact of retaliatory tariffs.
Commission president Jean Claude Juncker will join trade commissioner Cecilia Malmstrom at the meeting
Senator Rob Portman, an Ohio Republican, said he applauded the move to de-escalate tensions over tariffs.
In an interview with CNN's Dana Bash on "At This Hour", Clapper suggested that he and others are being targeted by the Trump administration as a form of political retribution.
"Well I think it's obvious that in farm country there's a lot of concern", Roberts said. "Also, they will be buying vast amounts of LNG!".
During a Monday event at the White House featuring American-made goods, Trump displayed a green hat that read, "Make Our Farmers Great Again".
Trump's trade policies have become central in several rural-state U.S. Senate races ahead of congressional elections in November. 'This is what we feared all along: that this would just turn into more aid programs'.
Donald Trump heard an earful on Tuesday from senators in his own party after his administration pledged to provide up to $12 billion in aid for USA farmers to shield them from the effects of trade disputes cultivated by the White House itself. "As long as the steel and aluminum tariffs are ongoing, the European Union will not negotiate on a high-level basis". "This proposed action would only be a short-term attempt at masking the long-term damage caused by tariffs", the group's Executive Director Brian Kuehl said in a statement.