U.S. announces $12 bn in aid to farmers hurt by trade tariffs

A grain salesman shows locally grown soybeans in Ohio

A grain salesman shows locally grown soybeans in Ohio

She said the "long list" of American goods would include machinery, agricultural and high-tech products, among others.

"We just want it to be a level playing field for our farmers, for our manufacturers, for everybody", Trump told reporters at the White House.

Sen. Pat Toomey, R-Pa., said the Agriculture Department was "trying to put a Band-aid on a self-inflicted wound". Bob Corker (R-Tenn.) told The Washington Post.

One program will help with food purchase and distribution while another will be specifically geared toward promoting trade, the article reported.

USA farmers are expected to grow 14.2 billion bushels of corn this year and 4.3 billion bushels of soybeans, down some from last year but still huge crops.

That figure apparently refers to the United States trade deficit in goods alone last year, which hit $810 billion last year, while the total deficit including services was $566 billion.

"The buyers in China are still making orders and bringing them in".

In interviews with the Herald in China last month, Chinese officials said they were undaunted by Trump's threats to levy increasingly harsh tariffs as high as $500 billion on Chinese goods. "At the end of the line, producers are going to be producing them at a loss".

In response to Perdue's announcement, the U.S. Wheat Associates and the National Association of Wheat Growers issued a joint statement thanking the administration for acknowledging that farmers need help.

Mark Jackson, who farms with his son and his brother on 2,000 acres in southeast Iowa near Oskaloosa was supportive of Mr. Trump's efforts to realign global trade to an improved balance for the U.S. He said he agrees with the broader goal of balancing trade especially with China.

"Overnight he also tweeted that "The European Union is coming to Washington tomorrow to negotiate a deal on Trade".

It will rely on the Department of Agriculture's authority to stabilize the farm economy by buying excess supply.

Under the terms of the Commodity Credit Corporation, the aid package does not require congressional approval. "The administration's trade aid plan is also a bid to shore up support among a slice of the rural electorate ahead of the midterm elections", Politico said. The Senate has several key races in agriculture-dependent states like Missouri, North Dakota, and in this November.

While Mr. Trump's aggressive trade policies with China have been celebrated by members of both the major political parties, his decision to impose tariffs on steel and aluminum imports from the EU, Canada and Mexico have been met with more skepticism.

It was a cheery end to talks Trump himself suggested this week would be acrimonious.

Ebert is waiting to see the details of the aid package.

The "Trump 2020" red, white and blue flags - emblazoned with his next campaign motto "Keep America Great!" - are ready to be shipped from the Jiahao Flag Co.in Anhui province and may be slammed by the president's own measures, according to Reuters. "No weakness!" Trump wrote.

Trump declared it a "very big day for free and fair trade" with Juncker by his side. It's as simple as that - and every body's talking! "America's farmers don't want to be paid to lose - they want to win by feeding the world".

Other Republicans backed the president. "This is the right fight to have but in the meantime our producers have got to ... live, while this fight's going on".

- "We are ready": Juncker' - While Juncker is set to make a last effort to talk Trump out of the auto tariffs, which would hit Germany's dominant carmakers hard, he warned on ZDF that if the U.S. moved ahead, "we are in a position to respond appropriately right away".

Meanwhile, Tarun Arora of India-based importer IG International said he expected the 25% tariff rise on USA apples due to be implemented on August 4 to lead to a dramatic drop in volumes to what has this year become Washington State's number-two market.

On Tuesday, the administration announced a plan to give farmers some relief.

Schlosser said he had been "transitioning" his farm to his son, but the future doesn't look good for young farmers now, he said. They are not there to offset bad policy.

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