Trump, Juncker announce deal pulling back from US-EU trade war

Trump, Juncker announce deal pulling back from US-EU trade war

Trump, Juncker announce deal pulling back from US-EU trade war

Farmer John Duffy loads soybeans from his grain bin onto a truck before taking them to a grain elevator on June 13 in Dwight, Illinois.

Bohl said many farmers are confident the tariffs will run their course in the near future. Rob Larew with the National Farmers Union says the Trump administration's aid program is a good start, but said what farmers really need is an end to the trade war.

"This is President Trump's promise kept for producers that he was not going to allow them to bear the brunt of these illegal trade retaliatory efforts of other countries", said Sonny Perdue, U.S. Secretary of Agriculture.

Trump's tweet Tuesday comes as he's scheduled to meet with European Commission President Jean-Claude Juncker in Washington on Wednesday for talks aimed at heading off a trade war, and as he continues to deal with domestic fallout from his deference to Vladimir Putin last week over Russian meddling in the 2016 USA presidential election.

European countries are also utterly devoted to one of the biggest barriers in EU-U.S. trade: geographical indications.

The red, white and blue banners for U.S. President Donald Trump's second-term campaign are ready to ship, emblazoned with the words "Keep America Great!"

Perdue said the plan was a short-term solution to the "illegal" response by China, Canada, Mexico, the European Union and other major economies to aggressive U.S. trade sanctions. It's as simple as that - and every body's talking!

The US also plans to buy crops such as fruits and nuts, distributing them to food banks and other government nutrition programmes.

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"These markets have been developed over years and because of trade agreements that we've had and whatnot", Flake said.

For instance, China is the biggest buyer of USA soybeans, importing more than $12.4 billion worth of the oil seed in 2017, according to the Peterson Institute for International Economics. Debt-to-income ratios for farmers are at a 34-year high.

Agriculture Secretary Sonny Perdue announced the aid in a call to reporters, saying the programs "are a firm statement that other nations can not bully our agricultural producers to force the United States to cave in".

Juncker came to Washington for a last-ditch bid to avoid USA tariffs on cars.

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".

In a statement, he said the Trump administration was "offering welfare to farmers to solve a problem they themselves created" and suggested that the stimulus itself is evidence that the administration "finally seems to understand that the Trump-Pence tariffs are hurting the American people".

Mr Trump has called the meeting productive.

"Today's announcement demonstrates that bilateral negotiations are a more effective approach to resolving trade barriers, not increasing tariffs", the alliance said in a statement. "This administration's tariffs and bailouts aren't going to make America great again, they're just going to make it 1929 again", he added. You've got the economy booming thanks to tax reform and deregulation, but this trade war will hurt growth.

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