Friday, 17 August, 2018

Trump threatens more tariffs on U.S. trading partners

Trump Tapping $12B to Help Farmers Affected by Tariffs Trump Plans Farm Bailout To Deal With Backlash To His Trade War
Jodi Jackson | 24 July, 2018, 21:23

The White House has already imposed a 25% tariff on $34 billion worth of Chinese products and, three weeks ago, threatened an additional round worth $16 billion. "We'll make it up to them", he said. Trade agreements with those countries have undermined the U.S. manufacturing base and led to a wave of job losses in recent decades, according to Trump.

Agriculture Secretary Sonny Perdue says the plan will help a broad number of farmers deal with the cost of "disruptive markets" as USA trading partners have retaliated for President Donald Trump's tariffs on imported goods.

In a separate tweet he said that tariffs his administration has imposed are working to bring other countries to the negotiating table.

The president has engaged in hardline trading negotiations with China, Canada and European nations, seeking to renegotiate trade agreements he says have undermined the nation's manufacturing base and led to a wave of job losses in recent decades. After $34 billion in tariffs against China went into effect earlier this month, China responded with its own equivalent tariffs soon after, targeting USA agricultural products including soy, corn, wheat, pork, poultry and more.

Punishing tariffs have been introduced on imported goods from Canada, China, and the EU. But in response to American tariffs, Beijing imposed its own on soybeans, in addition to other American agricultural products. One week later, autoworkers, foreign ambassadors, and lawmakers spoke out against new potential tariffs against imported cars and auto parts.

Trump has threatened to place penalty taxes on up to $500 billion in products imported from China, a move that would dramatically ratchet up the stakes in the trade dispute involving the globe's biggest economies.

On Monday, the White House confirmed that Trump was considering removing security clearances from Brennan and other former officials.

"We're stopping the barriers to other countries".

Using government power to dig economic holes and then fill them up: isn't that what it means to Make America Great Again?

Trump is meeting with European Commission President Jean-Claude Juncker (zhahn-KLOHD' YUN'-kur) on Wednesday.

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

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