A Deal for Trump and Juncker

Is Trump now hobbling an economy he earlier set free

"And, in the end, they're going to be much stronger than they are right now", Trump said of farmers back on April 9th after China threatened tariffs on pork and soybeans in retaliating against USA tariffs.

"This is a classic case of protectionism breeding more protectionism, so you had the USA tariffs being imposed on China, China naturally retaliated, and both tariffs have been very much targeted at the mid-west agricultural states that are politically sensitive for Donald Trump", he said.

Republican Senator Ben Sasse, a frequent Trump critic, said the president's trade policies recalled a past of perilous economic instability.

Despite trans-Atlantic tensions, there is increasing convergence between USA and European. "They sound nice, but they're rough", he told a convention of Veterans of Foreign Wars.

But when threatened with tariffs on autos and auto parts, European Union officials rushed to come to Washington, Mr Trump claimed.

The aid is meant to serve as temporary boost to farmers as the United States and China negotiate over trade issues.

And in a pre-dawn tweet, he said, "Tariffs are the greatest!".

In the unlikely event that Trump agrees, Juncker will suggest that significant makers of cars and auto parts, including Japan and South Korea, negotiate a multi-lateral agreement with the aim of reducing tariffs on those products to zero.

Stephen Kirchner, from the University of Sydney's United States Studies Centre said that the $14 billion soybean industry is one of the hardest hit U.S. agricultural exports, after China slapped a 25 per cent tariff on all oilseeds. The upcoming talks are viewed by various experts as the last chance to avert a full-scale trade war between the United States and the European Union.

French Finance Minister Bruno Le Maire said over the weekend: "We refuse to negotiate with a gun to the head".

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Trump has accused the European Union of unfair trade practices and has threatened to raise tariffs on cars imported from the bloc. Our two biggest importers of agricultural products - Canada and Mexico - are among those engaged in the trade war.

The Trump administration on Tuesday said it would provide up to US$12 billion in aid for U.S. farmers to shield them from the repercussions felt by trade spats between the United States and China, the European Union and others.

"I don't think 12 billion dollars will get them very far in an environment where USA agricultural exports to the rest of the world are being targeted in this way".

The U.S. Department of Agriculture is trying to ease some of farmers' pain during the trade war.

USDA officials told reporters they were still working to set up the programs, which they expect to be ready by early September.

But more voices even in Mr Trump's own Republican Party are coming out against his confrontational stance. The president's incoherent trade policy continues to lead to missed opportunities.

"This administration's tariffs and bailouts aren't going to make America great again, they're just going to make it 1929 again", he said in a statement.

But that provided little solace to rank-and-file Republicans, who said the tariffs are simply taxes and warned the action would open a Pandora's box for other sectors of the economy.

Senator Rand Paul, a Kentucky Republican, tweeted on Tuesday: "If tariffs punish farmers, the answer is not welfare for farmers". On July 10, the Trump administration released a list of $200 billion worth of Chinese goods that could be subject to a 10 percent tariff.

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