Farmers applaud federal help but want trade deals done

Farmers applaud federal help but want trade deals done

Farmers applaud federal help but want trade deals done

But the agreement was vague and the coming negotiations look certain to be contentious.

Trump was traveling to Iowa and Illinois Thursday in which his trade agenda was expected to be a leading issue.

US export prices for soybeans are at least $20 a tonne cheaper than from Brazil for August delivery in northern Europe, traders said.

Juncker visited Washington on Wednesday to talk trade with Trump, who insisted on reciprocal trade relations with the EU.

The tone was friendlier than it has been.

Previously, the European Union had been threatening to impose major tariffs on $US20 billion of USA goods if Washington pushed ahead with trade levies on imported cars.

U.S. Steel has credited Trump's decision to impose tariffs on steel and aluminum imports for its decision in March to fire up a local furnace that had sat idle for more than two years. But we have to do it. "That's not free trade, that's fool's trade, that's stupid trade and we don't do that kind of trade anymore".

Meanwhile, Mr Trump has accused China of "vicious" tactics, tweeting that China was specifically targeting USA farmers with retaliatory tariffs because "they know I love & respect" them.

Auto tariffs at the level Trump has threatened would add about 10,000 euros (US$11,700) to the sticker price of a European-built vehicle sold in the USA, according a European Commission assessment obtained by Bloomberg News last month.

The assistance will go into effect in September, months after President Donald Trump ordered Agriculture Secretary Sonny Perdue to prepare some options, the Washington Post reported.

Trump said he expected "something very positive to take place" during the White House talks - after sending a series of tweets blasting Europe for unfair treatment of United States exports.

G20 ministers call for greater dialogue on trade tensions
G20 ministers call for greater dialogue on trade tensions

He has slapped taxes on imported steel and aluminium, saying they pose a threat to USA national security. The two leaders plan to discuss USA tariffs on aluminum and steel and Trump's threat to extend duties to European cars coming into the United States.

It is a clear signal the U.S. President Donald Trump is determined to stick with tariffs as his weapon of choice in the conflict.

Whatever progress was achieved Wednesday could provide some relief for USA automakers.

Trump's tariffs have been criticized by business leaders and members of Congress who say they could hurt companies that use steel and aluminum in their manufacturing and raise prices for consumers. General Motors had slashed its outlook, and shares of Ford and auto parts companies had fallen.

"Our biggest exposure, our biggest unmitigated exposure, is really steel and aluminum when you look at all of the commodities", GM CEO Mary Barra said Wednesday.

Tariffs threaten more than $3.8 billion in IL exports, according to the U.S. Chamber of Commerce, and major companies including Caterpillar and Boeing already have been negatively affected. China has retaliated on soybeans and pork, affecting Midwest farmers in a region of the country that supported the president in his 2016 campaign.

About one out of every three rows of US soybeans is shipped to China, according to estimates.

The leaders pledged to expand European imports of USA liquefied natural gas and soybeans and both vowed to lower industrial tariffs, excluding autos.

He told broadcaster Deutschlandfunk that the two could try to forge a lighter version of the planned US-European trade deal known as the Transatlantic Trade and Investment Partnership (TTIP).

The US President, who has accused the European Union of unfair trade practices, has shown little interest in backing down over his trade policies and appeared to make yet another jibe at the meeting with Mr Juncker and the EU's intentions for it. "Europe's ahead of us", Schwager said.

Related news