Trump threatens more tariffs on U.S. trading partners

24 July, 2018, 21:22 | Author: Natasha Holloway
  • Trump Tapping $12B to Help Farmers Affected by Tariffs

"We'll make it up to them", he said.

U.S. agriculture exports have been a prime target of China and other countries that have retaliated against the series of tariffs Trump has imposed in recent months.

Democratic U.S. representative Jackie Speier of California, a major agricultural state, blasted the Republican president over the reported plan.

"The single best tribute to our workers can be found in the unmatched quality and craftsmanship of the unbelievable products they bring from the blueprint to the storefront", Trump added in a statement. Beijing's retaliatory tariffs have hit American soybeans and pork. White House officials hope it will quiet some of the unease from farm groups, but the new plan could revive debates about taxpayer-funded bailouts and the degree to which Trump's trade strategy is leading to unforeseen costs.

President Trump's tariff threats against China, Canada, Mexico and the European Union prompted immediate threats of retaliation.

Canada, Mexico and the European Union also struck back at Trump's leveling of USA steel and aluminum tariffs by hitting U.S. exports of agriculture products and other heavily exported United States goods.

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"I'm only in favor of the tariffs to fix the problem that's been going on for decades", Bruce Rastetter said during an interview with FOX Business' Stuart Varney on Tuesday.

The $12 billion will reportedly come in the form of direct assistance, a food purchase and distribution program, and a trade promotion program. It allows the CCC to borrow up to $30 billion from the Treasury Department to "stabilize, support, and protect farm income and prices".

Before departing for Kansas City, Trump tweeted that USA trade partners need to either negotiate a "fair deal, or it gets hit with Tariffs".

Mr. Trump's stance is in direct opposition to bipartisan criticism toward his tariff policies. Rep. Justin Amash (R-Mich.) responded to the president's tweet, saying: "Umm...no. Tariffs are taxes".

"This trade war is cutting the legs out from under farmers and White House's "plan" is to spend $12 billion on gold crutches", Sasse said in a statement Tuesday.

"Tariffs are the greatest!".

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