Trump says U.S., European Union are aiming for "zero tariffs"

Trump says U.S., European Union are aiming for

Trump says U.S., European Union are aiming for "zero tariffs"

President Donald Trump and European Commission President Jean-Claude Juncker agreed to suspend new tariffs while negotiating over trade, pulling the US and Europe back from the edge of a transatlantic trade war.

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.

Trump tells workers gathered at U.S. Steel's Granite City Works' Steel Coil Warehouse that other countries were able to target U.S. workers and companies and steal U.S. intellectual property.

The DIHK chambers of Commerce gave a cautious welcome to what was agreed, saying however, that US auto tariffs were not totally off the table.

Among US products President Donald Trump will showcase is the Lockheed Martin Corp F-35 fighter at the White House lawn on July 23, 2018.

Trump said he is working on the steel and aluminum tariffs.

Over in Berlin the EU's budget commissioner, Guenther Oettinger, said today that they were looking for a series of tariff reductions from the US.

"I can't argue they are trying to help us but how long will this last?" said Watne.

During their Oval Office meeting, Trump said he expects something "very positive to take place" during their discussions, but was adamant that a "level playing field" is needed for US farmers and manufacturers. It already has duty-free access to the European Union market for soyabeans, with the only significant barrier to trade being the fact that some of the GM soya varieties produced in the USA are not (yet) authorised by the EU.

Agriculture Secretary Sonny Perdue and other USDA officials say the aid will be available in three forms direct payments government purchases for distribution to food banks and development of new export markets
Trump greets EU chief, says US seeks 'level playing field' on trade

"It's encouraging that they're talking about freer trade rather than trade barriers and an escalating tariff war", said Rufus Yerxa, president of the National Foreign Trade Council and a former U.S. trade official.

The Trump administration on Tuesday plans to announce aid for US farmers to help protect them from the repercussions of trade spats between the United States and China, the European Union and others, a source familiar with the plan told Reuters.

Nebraska Republican Sen. Ben Sasse, a frequent Trump critic, said the president's "trade war" is 'cutting the legs out from under farmers and the White House's "plan" is to spend $12 billion on gold crutches'.

The two also said talks would seek to "resolve" USA tariffs on steel and aluminium and Europe's retaliatory duties, a step back from Trump's import protections for US metal producers. "Maybe we can work something out", he said.

In May, Trump abandoned a framework for trade negotiations with China within days of it being announced, before ratcheting up tariffs.

Agriculture Secretary Sonny Perdue described the programs as "a firm statement that other nations can not bully our agricultural producers to force the United States to cave in".

After Trump announced plans to impose $50 billion in tariffs on Chinese imports, Beijing retaliated with plans to impose tariffs on a range of agricultural products from the United States including soybeans, grains, meats and dairy products.

The US has since been in a faceoff with its allies and other major trading partners, who have imposed billions of dollars worth of tariffs on American products. A formal proposal would only come after the US Commerce Department completed its investigation into whether vehicle imports threaten national security.

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. House Speaker Paul Ryan, R-Wisc., said "better tools" are available to fight unfair trade practices, and "I don't think tariffs are the right answer".

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