Trump plans a 25-percent tariff on all auto imports

President Donald Trump

The red, white and blue banners for U.S. President Donald Trump's second-term campaign are ready to ship, emblazoned with the words "Keep America Great!" "They are being vicious in what will be their failed attempt".

On Tuesday, Trump suggested in a tweet that "both the US and the European Union drop all Tariffs, Barriers and Subsidies!"

As the tit-for-tat continued, the Trump administration rolled out a new $12 billion plan to provide subsidies - inviting new criticism from free market conservatives as well as lawmakers who blame Trump's trade war for the tariffs.

- Growing Republican backlash - Tweeting about the trade standoff on Tuesday, Trump repeated his call to remove all tariffs and trade barriers.

On Wednesday morning, President Trump tweeted that China is "vicious" on trade and said it's targeting USA farmers specifically because "they know I love & respect" them.

"What you heard (Monday) is the sentiment of many farmers: They would rather have their trade markets open than aid programs", said Sandison, who spoke at the Pacific Northwest Economic Region summit in Spokane on Monday.

"We just want it to be a level playing field for our farmers, for our manufacturers, for everybody", Trump told reporters at the White House.

Trump pushed back against critics of his plan on Wednesday, telling them to "be cool" because "the end result will be worth it!"

The proposal to stabilize farmers, some of whom have watched prices tumble amid ongoing trade disputes, is a recognition that Trump's tariffs are having a short-term impact on the agriculture sector heading into the elections and also that there is no clear end in sight to escalating trade battles. He grows about 25,000 bushels of soybeans a year, so if the price goes down $2, that costs him around $50,000.

This will help producers of soy, sorghum, corn, wheat, pork, dairy, fruit, rice and nuts, all products hit by tariffs imposed in response to U.S. actions.

- "We are ready": Juncker' - While Juncker is set to make a last effort to talk Trump out of the auto tariffs, which would hit Germany's dominant carmakers hard, he warned on ZDF that if the United States moved ahead, "we are in a position to respond appropriately right away".

"$12 billion to aid farmers means the U.S. is essentially borrowing from China to offset the costs of tariffs imposed by China", Phillips said.

"Everyone can have a patriotic heart, but this won't improve his economy, and instead it could make us Chinese just shoot ourselves in the foot".

Details of the plan were not clear.The administration's proposal will rely on commodity support programs as well as the Agriculture Department's authority to stabilize farmers during times of turmoil, according to Politico. He has also singled out the European Union as a "foe" of the USA because of its trade surplus. "I don't think threats bring us closer to a solution", he told German public TV station ARD on Tuesday.

American Farm Bureau Federation President Zippy Duvall welcomed the aid, saying it "should help many of our farmers and ranchers weather the rough road ahead and assist in their dealings with their financial institutions".

And Senator Rand Paul tweeted, "Tariffs are taxes that punish American consumers and producers".

"There is a tendency for a little bit of Trump piling on", he said.

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