ENC farmers react to Trump farm aid
- Author: David Armstrong Jul 25, 2018,
Jul 25, 2018, 10:49
The president on Wednesday will meet with European Commission President Jean-Claude Juncker at the White House as the EU hopes to convince him to hold off from raising tariffs on imported cars and avoid a trans-Atlantic trade war. "Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with tariffs", he said on Twitter, ahead of the European Commission chief's USA visit to prevent an all-out trade war. "We'll make it up to them", he said.
The Agriculture Department is announcing a $12 billion "short-term" plan to help USA farmers hurt by retaliatory tariffs.
Trump has placed tariffs on imported steel and aluminum, saying they pose a threat to US national security, an argument that allies such as the European Union and Canada reject. Earlier this month, the president imposed 25 percent tariffs on $34 billion of Chinese goods, with similar penalties on an additional $16 billion worth of products expected to go into effect shortly and he's threatened levies on an additional $200 billion of Chinese products in the next month.
Extra farm aid would be a balm to producers who are seeing prices drop and inventories rise because of disputes with China, Canada and other trade partners who are significant purchasers of USA pork, soybeans and other crops.
The Trump administration is planning to make the announcement in this regard soon, multiple media reports said, quoting an unnamed official familiar with the matter.
U.S. Secretary of Agriculture Sonny Perdue has officially announced the US$12 billion support measures, saying they are in line with the estimated US$11 billion impact of the unjustified retaliatory tariffs on U.S. agricultural goods. "They should do this by working with Congress to ensure farm bill programs provide enough assistance to farmers when markets collapse".
Trump has insisted that he is not going back. All three are embroiled in conflicts with the U.S.
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Mr Trump has said his tariffs - which he described in a Tweet as "the greatest" - are meant to pressure countries to change their policies toward United States exports.
The trade organizations also asked the Trump Administration to rejoin the Trans-Pacific Partnership and finalize negotiations to renew the North America Free Trade Agreement, two agreements "that will have lasting benefits to wheat growers across the country".
Speaking on behalf of a plastics industry trade association, Richard Braillie urged the administration not to push ahead with tariffs that targeted fluoropolymers, of which Teflon is an example, saying the new tariffs would cause "severe and irreparable damage to the USA fluoropolymer industry".
On Tuesday, the Trump administration announced it would provide money to farmers impacted by tariffs due to the ongoing trade war.
Trump is tweeting that trade partners need to either negotiate a "fair deal, or it gets hit with Tariffs".
"There may be some scope for Australian producers to pick up some of that [soybean] demand, on the other hand you've got American exports that were previously going to China that are likely being diverted to other markets as well", he said.
Trump has been critical of the European Union over its $150 billion trade surplus with the U.S. But Europe is only one front in Trump's attacks on trading partners. "And he said, 'I'm surprised, I've never heard of anybody who didn't want a payment from government'".