Republicans and farmers alarmed as Trump trade wars grow

'If We Didn't Trade,' Trump Argues, 'We'd Save a Hell of a Lot of Money' - Hit & Run : Reason.com

US President Donald Trump has reached an agreement with European Commission President Jean-Claude Juncker aimed at averting a transatlantic trade war, easing tensions stoked by Mr Trump's threat to impose tariffs on vehicle imports.

President Donald Trump is lamenting decades of USA trade policy as he addresses steelworkers in IL.

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

Now, Trump has enlisted the European Union to help US soybean farmers to counteract the repercussions of Chinese tariffs, in addition to the $12 billion in aid he has promised for USA farmers.

Trump knows that most of our trading partners don't really want free trade; they want managed trade, where they can get access to US markets while protecting certain industries from USA competition.

Negotiations to lower tariffs and other barriers on industrial products and services would be also launched despite U.S. tariffs on Spain's black olives.

The leaders also agreed that as long as negotiations were ongoing, "we'll hold off further tariffs and reassess existing tariffs on steel and aluminum", Juncker said. But he said reaching a detailed trade agreement with the European Union would probably prove very hard.

"This is a major win for President Trump".

Earlier this week, Trump tweeted, "Tariffs are the greatest!"

The details and mechanisms as well as the timing remain to be worked out, and the impact may not been seen for some time.

Germany's Economy Minister described the agreement - which means Washington will not follow through with a threat to impose tariffs on autos that would hurt the dominant German vehicle industry - as a "breakthrough" that "can avoid trade war".

More news: Facebook bans Alex Jones for 30 days

But Trump has form in doing U-turns, and U-turns on U-turns, on his own commitments.

The EU commission chief betrayed some scepticism in a remark at a speech in the United States capital later the same day.

One key aspect of the agreement, according to the official who spoke on condition of anonymity, was that the two sides had agreed to work together to tackle China's market abuses.

Heiko Mass, Germany's foreign minister, also reacted cautiously.

"It [Juncker's deal] has made a positive result more likely in the whole discussion between the European Union and the United States in terms of free trade or protectionism", Mass said in Seoul on Thursday. Trump has also accused Beijing of manipulating its yuan currency to give its exporters an edge, a charge rejected by China.

EU Trade Commissioner Cecilia Malmstrom, who accompanied Mr. Juncker, hailed the agreement and said on Twitter that she "will be working hard to take this work forward the coming months".

However, Reuters is reporting that a top German industry group is sceptical, saying the tariffs are not yet off the table and there is still no real resolution.

But he also cautioned that the United States is watching China's currency movements for any sign Beijing is manipulating the yuan. Maria Demertzis, the deputy director of Bruegel, a Brussels-based think tank, told The Post that Wednesday's move didn't reflect the E.U.'s wider efforts to counteract the White House.

Juncker said he had an "intention to make a deal today and we made a deal today".

Trump was accompanied on his Midwest trip by Ivanka Trump, his daughter and senior adviser, who said the president planned to sign legislation next week to reauthorize a program that provides money for job training and related programs for students.

Related News:

  • Russia’s Putin says he invited Trump to Moscow

    Russia’s Putin says he invited Trump to Moscow

    One day after the summit, the Russian Defense Ministry said it was "ready" to enact the "international security" measures discussed in the meeting.

    China being vicious on trade, says Trump

    Trump has also accused Beijing of manipulating its yuan currency to give its exporters an edge, a charge rejected by China. The escalating trade war and tariffs on steel and aluminum had put pressure on auto companies' earnings.
    Papa John's founder sues former company for records over his ouster

    Papa John's founder sues former company for records over his ouster

    He apologized for the remark and stepped down as Papa John's chairman following a Forbes report about the media training call. The company has adopted a "poison-pill" plan to try to prevent Schnatter from amassing a controlling stake.
  • FDA Approves Treatment For Period Pain Faced By 200 Million Women

    FDA Approves Treatment For Period Pain Faced By 200 Million Women

    In severe cases, surgery may be needed to destroy the misplaced tissue or remove the womb entirely. The company noted a decrease in bone mineral density using the medication.

    Disney and Fox shareholders have officially approved massive merger

    Fox shareholders on Friday approved the sale of its entertainment assets to Disney for $71.3 billion, reported Bloomberg . Both companies' investors reportedly approved in separate votes at the New York Hilton Midtown in Manhattan.
    SEC Rejects Winklevoss Bitcoin ETF

    SEC Rejects Winklevoss Bitcoin ETF

    According to CCN report, SEC regulators treated the modified application as new one (de novo). Bitcoin is down about 43 percent this year, hitting a low on June 29.
  • Britain Withdraws Cooperation With U.S. Over Islamic State Fighters

    Britain Withdraws Cooperation With U.S. Over Islamic State Fighters

    Diplomatic wrangling followed their imprisonment, as nations sought to decide where the pair - now stateless - should be tried. The UK would not oppose the use of the death penalty if the pair were extradited to the US, MPs were told earlier this week.
    Buffy Reboot: Showrunner Monica Owusu-Breen Reveals New Details

    Buffy Reboot: Showrunner Monica Owusu-Breen Reveals New Details

    Previous reports indicated the show will retain the mythology from the original series, but will refresh it for modern times. The characters in the new sequel trilogy exist in the same world, set years after the original 1970-1980's films concluded.
    World's largest dinosaur footprint was left by a monster dubbed 'Bigfoot'

    World's largest dinosaur footprint was left by a monster dubbed 'Bigfoot'

    According to Gizmodo , this remarkable fossil is nearly complete and is comprised of 13 bones. Giant dinosaurs roamed the Black Hills region of Wyoming about 150 million years ago.
  • Manchester United star set to leave Old Trafford

    Manchester United star set to leave Old Trafford

    I don't know how long he needs to stay out, but at the moment he is the captain, he's first choice. Fred has trained for the first time with his new Manchester United teammates.
    Longest lunar eclipse to take place on Friday

    Longest lunar eclipse to take place on Friday

    The eclipse will already have started by the time the Moon rises over the United Kingdom and Western Europe. Since the moon crosses the earth's shadow, along the central region, it takes a longer time to cross it.
    Russia's Putin tells Trump: 'Be my guest in Moscow'

    Russia's Putin tells Trump: 'Be my guest in Moscow'

    The invite also comes after Trump lambasted Iran in an astonishing tweet threatening them with war . "We are ready for such meetings".


Most liked

DeRozan looks toward future, eyes Spurs-Raptors game in Toronto
On it, the topic of DeRozan and his post-trade sentiments was brought up, and Lucic didn't hold back in giving his opinion. Toronto won 59 games and claimed the East's No. 1 seed, but the Cavs swept the Raptors in the second round of the playoffs.

Victim's Dad Arrested After 'Acid Attack' On Three-Year-Old Boy
Now it has emerged the mother - said to be from eastern Europe - had been living in a quiet Worcester street for eight months. The attack may have started over the end of a relationship with the three-year-old's mother, the Sun reported yesterday.

MAC Cosmetics Gives Away Free Lipstick, No Purchase Necessary
All MAC stores and counters in the USA are participating in the giveaway, except for locations closed on Sundays. MAC says you don't have to buy anything if you show up to their stores to claim free lipstick for your pout.

Trump hints he's ready to make new Iran deal
President Trump said yes, adding he would receive him at the White House "with honor". We stand up for the patriots who defend America.

Meghan, Duchess of Sussex's R68000 polo outift
Harry launched the charity alongside Lesotho's Prince Seeiso in 2006 after making a trip to the country on his gap year in 2004. Meghan Markle just won summer today with her newest outfit debut courtesy of a designer she's worn a couple of times .

Pep Guardiola 'not judging' Liverpool's transfer spending
Liverpool continue their pre-season tour of the United States against Premier League rivals Manchester United in MI on Saturday. Liverpool's recent signing of Brazil goalkeeper Alisson for a world-record deal, it took the Reds off-season spending to £250m.

Chelsea Look To Liverpool Legend And England Flop As Courtois Nears Exit
The Belgian goalkeeper resided in Madrid for three years while he was on loan at Atletico and his two children still live there. But the 38-year-old will be backup to the first-choice goalkeeper and Willy Caballero at Stamford Bridge.

Lunar Eclipse 2018: How to watch the Blood Moon eclipse today?
It will appear unusually large and bright , a mere 35.9 million miles from Earth on its elliptical orbit around the sun. New Zealand will get a short glimpse at the longest lunar eclipse of the century on Saturday morning.

Samsung forced to accelerate Galaxy Note 9 rollout
Samsung will be unveiling the Galaxy Note 9 in a few months, and who knows maybe you'll end up liking it more than the Galaxy S9 . The main difference in appearance from a year ago Note 8 - the fingerprint scanner will be located under the main dual camera.

Vladimir Putin invites Donald Trump to Russian Federation
President, are you anxious about what Michael Cohen is going to say to prosecutors?.Why has Vladimir Putin not accepted your invitation , Mr.

Due date for filing of Income Tax Returns extended till 31st August
However, now, an individual would have to pay a fee of up to Rs 10,000 for filing income tax return after the due date. To common man's relief, the income tax department has extended the last date for filing tax returns by one month.

Atlassian sells team-chat tools to Slack
The company's product competed directly with HipChat and especially Stride in the past, but it's always been ahead in the market. Slack is planning to discontinue Hipchat and Stride, and provide a migration path to Slack for all their customers.

European Union relaxes climate stance in trade sop to Trump
There are also intellectual property concerns associated with Chinese manufacturers stealing patented USA technology. China said it would retaliate, leaving even more US farm products at risk.

'Heaven itself!' - Michael Buble welcomes baby daughter with wife Luisana Lopilato
Speaking to the crowd, the emotional star said: "It has been two years since I've been on stage". His treatment was successful, and the singer returned to the spotlight this year.

Trump makes first visit to IL since becoming president today
President Donald Trump speaks on trade at Granite City Works Steel Coil Warehouse, Thursday, July 26, 2018 , Granite City, Ill. China, the European Union, Canada and Mexico have responded with taxes on some USA goods. "Safety remains a priority for U.