Overwhelming majority of Republicans support Trump's emergency aid for farmers

Tariffs from the US on China imports will result in many Chinese companies having to go bankrupt

China-based vehicle dealers said Mercedes maker Daimler moderately raised prices in the country of its GLE midsize SUV which is produced in Alabama.

In April, when the Trump administration talked about Chinese trade concerns, China indicated it would put tariffs on US soybeans if the United States took action on Chinese imports.

On Thursday, he took another victory lap during a speech to steel workers in IL.

They specifically agreed to increase USA exports of liquified natural gas, soy beans and other agricultural products to Europe and reduce barriers to sales of pharmaceuticals and medical devices. "I think it's a sign of progress", corn and soybean farmer Mark Recker of Arlington, Iowa, said of the president's announcement on European Union talks. The degree to which the US soybean market responded to booming Chinese demand shows that this trade relationship is irreplaceable when looking for ways to expand the USA export horizon.

There wasn't a lot of positive hoopla from soybean farmers either.

But other industries in the surrounding area have experienced negative consequences from Trump's trade policies, which the President declined to mention in his wide-ranging speech on Thursday.

"So we're going to go part-by-part with Europe ..." You know what happened?

"It's not always because of tariffs", Ross said.

To begin with, China should expedite the process of preparing a negative list for market access, take measures to liberalize high-level trade and investment, build a fair and competitive market environment and inject new vitality into the market. But that's because they generally have one meeting and then pause for a month, have another meeting.

If it holds, the US-EU pact could allow both to focus on China, whose economic rise threatens both.

The US and the European Union will hold further discussions over how to bring down tariffs and other trade barriers related to industrial goods, except cars, and pursue a joint action plan to reform the WTO to contain China, said a western trade envoy who asked not to be named.

It was not immediately clear that Trump, who has touted tariffs as key to bringing manufacturing jobs back to America, had abandoned his previous trade policies.

The vast majority or 75.5% of the farmers had agriculture sales of less than $50,000. Every market is an important one, particularly China, which imports one of every three rows of US soybeans.

Washington and Brussels had been edging toward a transatlantic trade war, engaging in tit-for-tat protectionist actions that threatened economic damage that neither claimed to want.

Agriculture officials said they would not need congressional approval and the money would come through the Commodity Credit Corp., a wing of the department that addresses agricultural prices.

"But as is often said, the devil is in the details".

"We're opening things up", Trump said in Dubuque (video above).

But U.S. Trade Representative Robert Lighthizer told a Senate committee Thursday that "we are negotiating about agriculture, period". His threat to impose 25 percent tariffs on auto imports could have deal a blow to the global trading system of the kind not seen since the 1930s.

The Trump administration on Tuesday unveiled the largest emergency farm aid package since 1998 that will pay up to $12 billion starting in September to compensate USA farmers.

While the budgetary flows associated with these programs have not been released, the bulk of the expenditures appear to be direct payments to farmers, either simply through the Market Facilitation program or through the purchase of agricultural products. But the USDA has not provided details about how and when the funds will be distributed. US President Donald Trump is unlikely to back down, especially since he is in high spirits over the US economy expanding at its fastest pace in almost four years, with second-quarter GDP growth increasing to 4.1 per cent. Neither side has to blink.

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