Donald Trump downbeat ahead of trade talks with EU

'Making America 1929 Again': GOP Sen. Sasse Rips Trump on Tariffs, Planned Farmer 'Bailout'

Trump Administration to Offer Multibillion-Dollar Bailout for US Farmers

Mr. Trump is also scheduled to meet with lawmakers on Wednesday to discuss his administration's proposed plan to offer $12 billion in aid to farmers hardest hit by retaliatory tariffs imposed by US trading partners.

Ahead of his meeting on Wednesday with President of the European Commission Jean-Claude Juncker, Trump tweeted that both the US and the EU should "drop all tariffs, barriers and subsidies". "This is a temporary measure, hopefully to show China and other countries they can not bully the caving in on unfair trade practices".

"U.S. pork, which began the year in expansion mode to capitalize on unprecedented global demand, now faces punitive tariffs on 40% of its exports", said NPPC President Jim Heimerl, a pork producer from Johnstown, Ohio.

Trump says at the top of the Oval Office meeting with EU Commission President Jean-Claude Juncker (zhahn-KLOHD' YUN'-kur) and trade chief Cecilia Malmstrom that he's looking for a fair trade deal with the EU and is hopeful the leaders can work something out.

The tweet came on the same day that Trump issued this one, amid news that his administration was starting a $12 billion plan to help US farmers amid trade disputes.

The government's action points to administration concern about damage to US farmers from Trump's trade tariffs and the potential for losing House and Senate seats in the Midwest and elsewhere. "This is a short-term bridge to help President Trump negotiate trade deals". "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 his speech to an appreciative audience in Kansas City, Trump was re-emphasizing a theme he had addressed earlier Tuesday on Twitter, when he boasted" "Tariffs are the greatest!"

"I am glad that the administration finally seems to understand that the Trump-Pence tariffs are hurting the American people", said Sen.

Trump has repeatedly called the European Union - which includes numerous U.S.'s oldest and most committed allies - an unfair trading partner and even labeled it a "foe". Pete Hanebutt, the North Dakota Farm Bureau's public policy director, hesitated to comment on the aid package Tuesday afternoon until he learned more about it.

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They also said China's government-backed economy and its increasing shift toward automation and reliance on service industries mean that American workers would feel the pain of a full trade war before Chinese businesses do. "America's hard-working agricultural producers have been treated unfairly by China's illegal trading practices and have taken a disproportionate hit when it comes illegal retaliatory tariffs".

"We want to avoid a further escalation of the trade dispute (into) a trade war", Oettinger told German broadcaster Deutschlandfunk.

Since discussion of a tit-for-tat exchange of tariffs between the U.S. and China became serious in late May, U.S. soy prices have dropped more than $2 per bushel.

"The $12 billion in farm aid announced today will provide a short-term fix, but it's not a long-term solution", Iowa Gov. Kim Reynolds said in response to the Trump announcement.

Sen. Charles Grassley, R-Iowa, said the administration's move was "encouraging for the short term".

The package of programs is authorized under the Depression-era Commodity Credit Corporation Charter Act, according to Agriculture Secretary Sonny Perdue, and thus does not require approval from Congress.

But more voices even in Mr Trump's own Republican Party are coming out against his confrontational stance.

"No one has an interest in having punitive tariffs, because everyone loses in the end", he said.

While Mr. Trump's aggressive trade policies with China have been celebrated by members of both the major political parties, his decision to impose tariffs on steel and aluminum imports from the EU, Canada and Mexico have been met with more skepticism.

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