Published: Tue, July 31, 2018
World Media | By Shelia Harmon

European Union says farming 'not part' of U.S. trade deal, contradicting Trump

European Union says farming 'not part' of U.S. trade deal, contradicting Trump

"I say, don't blame President Trump".

China now buys a third of USA soybeans, and while importers stockpiled them in the two months before punitive tariffs hit in July, they likely will turn to Brazil to buy what they need, and it may be hard to win back market share.

American agriculture associations and groups have, by and large, expressed some form of gratitude for the assistance.

In this April 27, 2017, photo, a staff member talks with a visitor at a display booth for Qualcomm at the Global Mobile Internet Conference (GMIC) in Beijing. He said he told the Europeans: "Do me a favor: Would you go out to the farms in Iowa. would you buy a lot of soybeans right now?" Trump is asking for patience, as he believes the tariffs will lead to the creation of trade agreements more favorable to the United States. Last week, he surprised us again by threatening tariffs on $500 billion of Chinese products.

He's a pro-Trump lawmaker, but he's also a vehicle dealer, and the auto industry is losing sleep over Trump's steel and aluminum tariffs, and the potential the administration has raised for more auto-related tariffs. "ASA continues to call for a longer-term strategy to alleviate mounting soybean surpluses and continued low prices, including a plan to remove the harmful tariffs".

"We will be starting immediately", Mr. Kudlow said in an interview with CBS's "Face the Nation".

Chicago-traded soybean futures plunged 20 percent between late May and mid-July in the lead-up to China's 25 percent tariff against USA beans that took effect July 6. The EU, on the other hand, imported roughly 5.3 million tons of soybeans from the USA a year ago.

The Trump administration announced Tuesday it is offering up to $12 billion in aid to farmers to help mitigate the retaliatory tariffs stemming from Trump's widening trade feud with other countries. On Friday, the Dow Jones industrial closed down slightly.

German Economy Minister Peter Altmaier hailed the talks as a "breakthrough" that could avoid a trade war and save millions of jobs.

No deal was signed with the European Commission President Jean-Claude Juncker during his meeting with Trump on Wednesday.

But many analysts are skeptical that Trump's tactics will produce such an outcome.

President Donald Trump on Thursday made several false or misleading claims about the steel mill he had traveled to Granite City, Illinois, to visit, as well as about his campaign victory and the economy itself.

China will likely retaliate if additional tariffs are imposed, economists note, rather than simply knuckle under. A comprehensive agreement that promotes two-way trade would be entirely welcome.

After Beijing offered this spring to buy more natural gas and farm goods from the U.S. to narrow the trade deficit, Treasury Secretary Steven Mnuchin said the trade war was "on hold".

Talks with China collapsed nearly as soon as they started.

Mr. Kudlow said that he didn't "buy" that argument. "They've received conflicting messages depending on who they speak with".

Given that the European Union is already under some United States tariffs, a closer trade connection would be a way to fight Trump back.

"I just think he can not operate the way he is, and anybody who stays close to him is going to rue the day", Nixon said.

If Trump succeeds in using trade wars to bring down European and Chinese trade barriers, he may end up being one of the greatest free-trade presidents in history.

Commerce secretary Wilbur Ross promised a "thorough, fair and transparent investigation", but said foreign imports may have "eroded" the power of USA carmakers.

Granite City, a blue-collar steel town in southern IL, is among the relatively few areas of the country that has reaped benefits from Trump's protectionist trade policies. He has been denouncing other countries' trade practices and urging retaliation for decades, dating to the 1980s, when Japan was regarded as America's main global economic threat. "It's just really hard when you're trying to make a living", Juchems said.

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