Trump threatens more tariffs on US trading partners

Trump threatens more tariffs on US trading partners

The Trump administration was set to announce billions of dollars in aid for USA farmers on Tuesday 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.

When Donald Trump announced his tariffs plan in April he promised that it would only work to benefit farmers. After Trump hit China with tariffs, they responded with a 179 percent retaliatory tariff on USA sorghum. It involves direct payments to farmers, the purchase of excess food and trade promotion programs to help create new export markets.

Retaliatory tariffs on goods such soybeans, pork, beef and bourbon have hit farmers' and others' bottom lines in Wisconsin, North Carolina, Ohio, Iowa and Kentucky.

But the plan magnified objections among many Republicans that the tariffs amount to taxes on American consumers. China said it would retaliate, leaving even more USA farm products at risk.

"This trade war is cutting the legs out from under farmers and White House's "plan" is to spend $12 billion on gold crutches", Sasse said in a statement Tuesday.

While promoting the worldwide negations, Mr. Trump praised his hard-line trade strategy, saying slapping tariffs if the U.S.is treated unfairly is "simple". America's farmers don't want to be paid to lose - they want to win by feeding the world.

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"Tariffs are the greatest!". He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that a year ago totaled $335 billion.

Trump has threatened to place tariffs 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.

During a Monday event at the White House featuring American-made goods, Trump displayed a green hat that read, "Make Our Farmers Great Again".

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

Politico, citing two sources familiar with the plan, also reported the administration will pay for billions in trade-related aid through the U.S. Department of Agriculture's broad authority and two commodity support programs in a farm bill under consideration in Congress.

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