Trump Races Toward 25 Percent Tariff on Auto Imports

Trump Races Toward 25 Percent Tariff on Auto Imports

"This is a short-term solution to allow President Trump time to work on long-term trade deals to benefit agriculture and the entire US economy", Perdue said in a statement.

Trump has placed tariffs on imported steel and aluminum, saying they pose a threat to US national security, an argument that the European Union and Canada rejects.

Trump will take his competitive approach on trade into a meeting Wednesday with European commission president Jean-Claude Juncker, who will come armed with proposals meant to appease the mad man behind the wheel.

"This is obviously a short-term solution that will give President Trump time to work on a long-term trade policy and deal to benefit agriculture as well as all sectors of the American economy", Agriculture Secretary Sonny Perdue said during a call with reporters.

American farmers depend on being able to sell overseas, and tariffs make what they produce more expensive. Trump said. "Hope they do it, we are ready - but they won't!" he said. Remember, we are the "piggy bank" that's being robbed.

Pennsylvania farmers greeted the Trump Administration's announcement Tuesday of $12 billion in emergency aid to agriculture with mixed emotions.

Senior officials at the Department of Agriculture described the aid as temporary relief for farmers impacted by retaliatory tariffs while US trade representative negotiate long-term deals.

"I want to know what we're going to say to the automobile manufacturers and the petrochemical manufacturers and all the other people who are being hurt by tariffs", said Senator John N. Kennedy, a Republican from Louisiana.

Some of fruits to be hardest hit by the trade policies are cherries - which are now facing a 50% tariff going into China - and apples, which have been hit by higher tariffs in China and Mexico, with India set to also implement additional duties next month in response to US duties on steel and aluminium imports.

"Tariffs are taxes", he said.

They also agreed to align regulatory standards to allow for medical devices to have better market access in Europe, the report said. "The farm economy can not take this and we need to get back to work and increase these exports".

Trade damage from such retaliation has impacted a host of United States commodities, including field crops like soybeans and sorghum, livestock products like milk and pork, and many fruits, nuts and other specialty crops, it said.

Flags for U.S. President Donald Trump's 'Keep America Great!' 2020 re-election campaign are seen at Jiahao flag factory in Fuyang, Anhui province, China July 24, 2018.

Several Republicans were nonetheless critical of the aid plan. Sen. "If tariffs punish farmers, the answer is not welfare for farmers - the answer is remove the tariffs". The USDA said it planned to roll out some of those details around Labor Day and the program would begin to make payouts after the fall harvest. Some of Trump's fellow Republicans are also already balking at the idea of government-funded bailout for a trade war they oppose.

The government's purchases of excess crops would not require congressional approval and would come through the Commodity Credit Corporation, a wing of the Agriculture Department. He's felt the impact of the trade wars directly as milk prices plummeted again this year following a long downward slide.

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