stayontheblack.com

World

Trump And EU Agree To Work Toward Zero Tariffs

A grain salesman shows locally grown soybeans in Ohio

Rand Paul (R-KY) ended his week of defending Trump by coming out strongly against the tariffs. Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News.

European Union Commission President Jean-Claude Juncker (zhahn-KLOHD' YUN'-kur) is telling President Donald Trump that the E.U. and USA are partners and allies, "not enemies", and must work together at the start of trade negotiations between the two major economies. Please refresh for details.

The aid program will go into effect on September 4, right after Labor Day. Fall is the biggest season for American soybean farmers.

Agriculture officials said they would not need congressional approval and the money would come through the Commodity Credit Corporation, a wing of the department that addresses agricultural prices.

Flags for U.S. President Donald Trump's "Keep America Great!"

"Absolutely farmers want trade", he said. Additionally, the agency is allowed to have nonrecoverable losses and routinely makes several billion dollars of nonrecoverable payments each year. "But if we have to dig our heels in for a little while to come up with fair trade, rather than free trade, I'm sure most producers in this area are willing to go through a little hardship to eventually have a stronger end game".

Mr Juncker flew to Washington following months of soaring tensions between Europe and the United States in the wake of Mr Trump's decision to issue hefty tariffs on steel and aluminium.

Trump appeared to take offense to Ryan's comments, questioning on Twitter Wednesday morning why a "weak politician" would call for a reduction of trade restraints.

The Trump administration today announced a massive $12 billion in financial assistance to American farmers hit by retaliatory tariffs imposed by trading partners like China, India and the EU.

The moves have been unsettling to lawmakers with districts dependent upon manufacturers and farmers affected by the retaliatory tariffs.

"We should focus on reducing tariffs, not increasing them and that's what we have to do".

In other words, there may be some truth to the claim trade-weighted currency levels adjusted for inflation are distorted in Germany as well as the U.S. But he said reaching a detailed trade agreement with the European Union would probably prove very hard. The president imposed a tariff on $34 billion worth of goods from China and levied duties on steel and aluminum imported from around a world, with a few exceptions.

Dining with the Wheat Quality Council's crop tour at a steak dinner picnic near the state capital of Bismarck, farmer Phil Volk said he was concerned about the longer-term damage from the trade war.

"I think it's a catastrophe that we don't talk to each other".

"There is a tendency for a little bit of Trump piling on", he said.

"We are just kind of being played", added Tom Giessel, who was cultivating his fields when he stopped his tractor to take a cellphone call from a reporter seeking his reaction to the plan.

Farmers have been a particular target in the current clash over trade policy as other countries seek to retaliate for US duties on Chinese goods as well as on steel and aluminum imports from the European Union, Canada and Mexico.

The president is scheduled to host EU President Jean-Claude Juncker at the White House on Wednesday, with a discussion on trade high on the agenda.

The Commission briefed European Union countries last week on the bloc's possible response to vehicle tariffs, saying in theory it could hit 9 billion euros of USA goods, according to European Union sources.

Associated Press writers Jill Colvin, Kevin Freking and Matthew Daly in Washington, James MacPherson in Bismarck, North Dakota, and Roxana Hegeman in Wichita, Kansas, contributed.