Home » Money

EU ready to respond to U.S. tariffs with duties worth $20B

25 July, 2018, 23:47 | Author: Lawrence Cooper
  • 'Making America 1929 Again': GOP Sen. Sasse Rips Trump on Tariffs, Planned Farmer 'Bailout'

Mr. Trump is also scheduled to meet with lawmakers on Wednesday to discuss his administration's proposed plan to offer $12 billion in aid to farmers hardest hit by retaliatory tariffs imposed by US trading partners.

European Commission President Jean-Claude Juncker and European Trade Commissioner Cecilia Malmstrom will signal the EU's willingness to negotiate a bilateral trade agreement on manufactured goods, or a so-called plurilateral sectoral agreement between all major vehicle exporters which would cut or eliminate tariffs on automobiles globally. Soybean farmers in IL tell me that since the start of the president's trade war, they've seen their crop value drop by 20 per cent.

In addition to the direct impact of tariffs on American farm products, farmers have also been hurt by USA tariffs on foreign steel imports.

Trump says at the top of the Oval Office meeting with EU Commission President Jean-Claude Juncker (zhahn-KLOHD' YUN'-kur) and trade chief Cecilia Malmstrom that he's looking for a fair trade deal with the EU and is hopeful the leaders can work something out.

"You have a awful policy that sends farmers to the poorhouse, and then you put them on welfare, and we borrow the money from other countries", said GOP Senator Bob Corker of Tennessee.

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 US pork, soybeans and other crops.

The White House has made a decision to direct $12 billion in emergency aid to American farmers, to help take the sting out of the trade war that President Donald Trump started.

"President Trump personally promised me that agriculture would be held harmless as he worked on trade, and today's announcement of $12 billion in USDA assistance for disrupted markets confirms his intention to keep his promise to me", said King. "This is a short-term bridge to help President Trump negotiate trade deals".

In a speech to in Kansas City, Missouri on Tuesday, the president aggressively defended his trade policies.

Missouri duck boat tragedy: What we know so far
She said the crew and passengers were aware there was a storm brewing, but the water was calm when they set out on their cruise. The duck boat that capsized in Branson, Mo . will be raised from the bottom of Table Rock lake on Monday starting at 9 a.m.

Trump’s True Feelings About Russian Election Interference Are Clear
In a sharp rebuke to the White House, the resolution passed with unanimous support from both parties, 98-0. Two letters got Donald Trump in trouble again later in the week.

Walmart video streaming service tipped as Netflix, Prime Video rival
Combined subscriptions to streaming services reached 15.4 million as of Q1 2018, while paid TV subscriptions is at 15.1 million. One confusing thing with the report is that Walmart is also looking into launching an ad-supported streaming service.

Juncker, the European Commission's president, said of the EU and United States, which represent half the world's trade: "We are close partners, allies - not enemies".

A second proposal would be for a TTIP-lite deal, reducing the Transatlantic Trade and Investment Partnership, acomprehensive trade agreement between the USA and the European Union pursued by Barack Obama and dumped by Trump, to a limited one focused only on industrial tariffs. "I don't want us to have yet another one". Nebraska Sen. Ben Sasse (R) said, "America's farmers don't want to be paid to lose - they want to win by feeding the world". China, meanwhile, retaliated with duties on pork and soybeans.

Republicans criticized the Trump administration's aid program, calling on him to instead reverse tariffs.

"The actions today are a firm statement that other nations can not bully our agricultural producers to force the United States to cave in", agriculture Secretary Sonny Perdue told reporters during a conference call announcing the program.

The funds, however, will not be spent until Labor Day in early September, the Department of Agriculture said Tuesday, just months before the midterm elections.

Preliminary details of the agricultural aid program that emerged Tuesday indicate the administration will tap the Commodity Credit Corporation, an entity created during the Great Depression to support farmers, to borrow directly from the Treasury for aid to agriculture.

Soybeans, the second-most valuable USA crop after corn, have been especially hard hit - exports to China accounted for about one-third of the oilseed's revenue a year ago. "If we cede once, we will often have to deal with such behavior in the future", Heiko Maas wrote on Twitter.

But more voices even in Mr Trump's own Republican Party are coming out against his confrontational stance.

"We can not exclude either possibility, but China would not want to see the latter", he said. The US trade deficit with China in 2017 came in at $375.6 billion, according to Census Bureau data, though adding that figure to this year's data through May comes out to about $528 billion.


  • Molinari survives wild day to win British Open

    Molinari survives wild day to win British Open

    Eddie Pepperell shot the low round on the final day and held the clubhouse lead until fellow Englishman Justin Rose swiped it. His charge was a 2-under 69 in the strongest wind of the week, the only player from the last four groups to break par.
    Nielsen rules 15th; Thomas stays on top

    Nielsen rules 15th; Thomas stays on top

    The 24-year-old Moscon was suspended by Sky for six weeks last year for using a racial slur against an opponent. It is the latest in a series of controversies involving the Team Sky rider.
    White Helmets expected to be resettled in United Kingdom  after rescue from Syria

    White Helmets expected to be resettled in United Kingdom after rescue from Syria

    Hundreds were evacuated from the southwest of the war-torn country as part of what Israel described as a "humanitarian effort". It added that the White Helmets and their family members were transferred to a neighbouring country, which it did not name.
  • Who Is America?: Georgia State Rep Resigns After Epithet-Laced Pranking

    Who Is America?: Georgia State Rep Resigns After Epithet-Laced Pranking

    And finally, Mr Spencer was told he could intimidate terrorists by pulling down his trousers and exposing his buttocks. Spencer apologized for what he called a "ridiculously ugly episode", but initially refused to step down.
    Israel launches waves of strikes across Gaza after soldier killed

    Israel launches waves of strikes across Gaza after soldier killed

    But more recently, some Gaza officials said the protests would end if Israel lifted an economic blockade of the Gaza Strip. An Israeli Cabinet members said Hamas has failed to listen to Israeli warnings against violence at the Gaza border.
    Child-Killer Who Taunted Detectives For 30 Years Finally Gets Arrested

    Child-Killer Who Taunted Detectives For 30 Years Finally Gets Arrested

    April Tinsley - a blond-haired, dark-eyed first-grader - left her home in Fort Wayne for a friend's house two streets away. The case saw new life in 1990, when her killer scrawled a message on a barn door: "I kill 8-year-old April Marie Tinsley".
  • Pakistan Race Tightens on Eve of Historic Vote

    Pakistan Race Tightens on Eve of Historic Vote

    Sharif released an audio recording from jail on Monday, urging supporters to send his party back to government for a second term. He said the elder Sharif, along with his daughter Maryam Nawaz, were arrested and were not even allowed to meet Sharif's mother.
    Trump slams EU's fine against Google

    Trump slams EU's fine against Google

    The company also prevented manufacturers from selling devices running on alternative versions of its Android operating system. European Commission President Jean-Claude Juncker will meet Trump in Washington D.C. on the trade issue next week.
    Lewis Hamilton Extends Mercedes Stay With New Two-Year Deal

    Lewis Hamilton Extends Mercedes Stay With New Two-Year Deal

    Lewis Hamilton accused Ferrari team of interesting tactics, thus indirectly accusing Kimi Raikkonen of intentionally crashing into him.
  • Trump aide's 'Russia ties' alleged in secret U.S.  documents

    Trump aide's 'Russia ties' alleged in secret U.S. documents

    Page has vehemently denied the dossier's allegations, and says he has never spoken to Manafort. The FBI, in its initial application the month before Mr.
    Kremlin aide says Putin, Trump may meet at G20 summit

    Kremlin aide says Putin, Trump may meet at G20 summit

    Eighty-seven percent of Republicans and 54 percent of independents were among those who approved of a second Putin summit. Additionally, the poll showed 58% don't approve of how Trump's dealing with immigration while just 31% approved.
    Insomniac Drops Two New Spider-Man Trailers

    Insomniac Drops Two New Spider-Man Trailers

    The bad news is that this limited edition bundle has only been announced for the US and Canada, where it will retail for $399.99. It also comes with a red wireless DualShock 4 controller, a physical copy of the game, and digital content.


Wicker: I second Trump's support of Iranian people
Iran's economy and currency has tanked since Trump withdrew Washington from the 2015 Iranian nuclear agreement . The statement from President Rouhani that set off Trump was a clear threat to the United States.

Trump Warns Iranian President 'Never Threaten the US'
Did Rouhani respond to Trump's threat? Washington has also been accused of posting propaganda on social media aimed at stirring up unrest in Iran.

Christian Pulisic waves away security as young fan storms pitch for selfie
Better was to follow for the American, a target for Sunday's opponents, as he put the Germans into the lead with a minute to play. Pulisic, still just 19-years-old, has not yet reached the legal drinking age in the United States.

Montenegro responded to trump's words on the necessity of its protection
The congressman also dismissed a recent Washington Post report that officials are "purging" employees at the U.S. European Commission President Jean-Claude Juncker will discuss trade with Trump at a meeting on Wednesday.

Women killed, gunmen in custody after standoff at LA Trader Joe's
Los Angeles police handcuffed a man outside a Trader Joe's on Saturday evening, bringing an end to the hostage standoff situation. Minutes later people could be seen being rescued by climbing out of the store's window's before they were led to safety.

Meant no disrespect to Trump, says official
Trump also asserted, without evidence, that his campaign had been illegally spied upon by the Federal Bureau of Investigation . Among Democrats, 78 percent disapprove of what Trump said about US intelligence findings, as do 59 percent of independents .

Chinese emissary says no easy win in trade war
The US has warned it would levy $200 billion of Chinese imports with additional tariffs if Beijing continues to retaliate. Since tit-for-tat tariffs went into effect in early July , China has faced a tough battle.

Why Alexis Sanchez Is Not On Tour With Manchester United
That kit, which commemorates the club's 1968 European Cup triumph , was announced in May and to be fair, the two are pretty similar. "It's not good for him and not good for me, or for the team".

Markle's sister says it will be Meghan's fault if their dad dies
Issues among the newlywed's family have been widely reported and it's not the first time her half-sister has attacked her online. Of course, it helps that the powder pink shade matched perfectly with her dress , heels, and bag.

Arnold Schwarzenegger calls Donald Trump a "little wet noodle"
In fact, the reaction back home was immediate and visceral , among fellow Republicans as well as usual Trump critics . Trump said the summit with Putin still "was our most successful visit" on his European trip.