Tariffs Are Great: Trump Defends Trade Strategy Ahead Of EU Chief Visit
Farmers have been hit especially hard after our trade partners issued retaliatory tariffs on billions of dollars worth of goods following Trump's 25% and 10% tariffs on steel and aluminum, respectively.
Agriculture Secretary Sonny Perdue said Tuesday the emergency aid package will use existing funding to mitigate the estimated $11 billion impact of "illegal tariffs" other countries have imposed on U.S. agriculture exports.
Earlier Tuesday, the president praised tariffs in a tweet. "The move is an indication that Mr. Trump - ignoring the concerns of farmers, their representatives in Congress, and even some of his own aides about the adverse consequences of a trade war he says he relishes - plans to plow forward in escalating his tariff tit-for-tat around the world", The New York Times's Julie Hirschfeld Davis and Ana Swanson say.
The CCC has broad authority to make loans and direct payments to USA growers when prices for corn, soybeans, wheat and other agricultural goods are low.
Several countries and regions, including China, the European Union, Canada and Mexico, . have imposed heavier duties on US imports in retaliation to President Trump's tariff policies.
Sen. John Hoeven, R-N.D., said he's not a "fan" of tariffs but advocated for improved trade deals. She said her bill would come at "no additional cost" while Trump's plan will only scratch the surface of farmers' losses.
Farm state lawmakers and other groups quickly criticized what they called a bailout. Sen.
"He's gone down a path of tariffs against China, which it's not obvious [if it has] an endgame that will be to the betterment of the world trading system, and he's threatened these vehicle tariffs and that's not a good idea either", he said.
"If tariffs punish farmers, the answer is not welfare for farmers - the answer is remove the tariffs", Paul tweeted.
"This administration's tariffs and bailouts aren't going to make America great again, they're just going to make it 1929 again", he said in a statement.
The US has unveiled a $12bn (£9.1bn) plan aimed at helping US farmers hurt by the intensifying trade war.
On Tuesday, the Trump administration announced it would provide money to farmers impacted by tariffs due to the ongoing trade war.
American Farm Bureau Federation President Zippy Duvall welcomed the aid, saying it "should help many of our farmers and ranchers weather the rough road ahead and assist in their dealings with their financial institutions".
The Trump administration on Tuesday said it will use a Great Depression-era programme to pay up to $12 billion (9.13 billion pounds) to help US farmers weather a growing trade war with China, the European Union and others that the president began. "Great to see providing aid to farmers impacted by retaliatory tariffs", he wrote on Twitter. "So the tariff policies that have been put in place by the administration are now causing them to invoke a welfare policy for our farmers which I'm sure is not what they wish".
Farm groups generally have stood by Trump during the trade war although anxiety has begun to rise in farm country.
In a statement, Cramer welcomed the assistance package but offered a caveat: "At the end of the day we want trade not aid".
Juncker will suggest two paths, one of which is a deal among major auto exporting nations including the U.S., Europe, Japan and Canada to reduce tariffs on cars.
Recommended News
-
24 July 2018Jurgen Klopp discusses where new Liverpool FC signing Naby Keita will play
They know him already. "If you bring one player in for £100m and he gets injured, then it all goes through the chimney", he said. The £50m star was signed last summer but has only now been able to play for his new side. "We have the players we want".
23 July 2018Mahrez makes debut in pre-season opener
He's a great professional, he is training like an 18 year-old. "I know it's not easy for him given what's happened in the last period".
21 July 2018Q4 FY2018 — Microsoft earnings
Surface revenue was up 25 percent to $1.2 billion, a reflection of the stronger product lineup today as compared to a year ago. The numbers boded well for Microsoft's biggest acquisition in recent years, of professional networking site LinkedIn . -
25 July 2018Trump Tells VFW Convention North Korea to Return US Remains Soon
A satellite image released by 38 North on Monday showing the partial dismantling at the Sohae launch site in North Korea. He said the North's action was an important development and may lead to more activities at the area.
23 July 2018Trump rips Fed for raising interest rates
President Donald Trump pauses during his meeting with members of his Cabinet in the Cabinet Room of the White House Wednesday. For a long, long time the Fed has felt it important to conduct our business that way.Lesbian Batwoman is coming to a TV near you
Should the live-action series get picked up, it'll be Berlanti's 7th show on the network and his 15th on-air series, overall. Batwoman , the first openly gay DC superhero, would also add to the CW's recent track record of inclusion on its airwaves. -
23 July 2018North Korea Seeks Formal End of 65-year-old Korean War
Pompeo also said that North Korean cyber theft was a mechanism the regime uses to generate revenue and needed to be countered.
23 July 2018Modi govt slashes GST rate on several products: Here're details
In its meeting in November past year , the Council had reduced rates in over 178 items in the 28 per cent tax bracket. Besides revenue collection, the GST council will now focus on job creation as well, the Finance Minister said.
21 July 2018Trump talks tougher, now says he warned Putin on meddling
During a cabinet meeting later in the day, a journalist asked Mr Trump if Russian Federation was still targeting the US. Glor then asked what Trump said to Putin during their meeting. -
25 July 2018Demi Lovato Reportedly Hospitalized for Possible Overdose
Her 2015 album, " Confident ", earned her a Grammy nomination for best pop vocal album. Reps for the singer did not immediately respond to a request for comment.
23 July 2018Reports Of A Mass Shooting In Toronto
Suddenly, she and the other customers were told to run to the back of the restaurant. Police were reportedly called to the scene around 10pm Sunday night.
19 July 2018National Hot Dog Day 2018 freebies & deals TODAY
Hwy 55 Burgers, Shakes & Fries is celebrating with $1 hot dogs from 2-5 p.m. for their loyalty members. On July 18, get 14-ounce Ball Park Angus Franks for $1.99 each and eight-pack hot dog buns for $0.99 .
