Trump administration to announce financial assistance to farmers in wake of tariffs

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After a meeting at the White House with the President of the European Commission, Jean-Claude Juncker, Trump said the EU would buy larger quantities of USA soybeans and work with Washington to cut other trade barriers to zero.

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

Having already laid the groundwork for a further US$200 billion worth of further tariffs in early July, Trump said last week that he was willing to impose tariffs on all Chinese products imported to the United States, with the total value of good targeted reaching US$500 billion.

President Trump's tariff threats against China, Canada, Mexico and the European Union prompted immediate threats of retaliation. He said the two leaders were working towards a goal of "zero tariffs, zero barriers, and zero subsidies on non-auto industrial goods". "We also will resolve the steel and aluminum tariff issues, and we will resolve the retaliatory tariffs".

"North Dakota's farmers and ranchers don't want a handout - they want access to markets to sell their goods", she said in a statement that called on the Trump administration to "give up this misguided trade war". He has also threatened to slap tariffs on imported cars, trucks and vehicle parts, potentially targeting imports that totalled 335 billion dollars (£255 billion) a year ago.

He has long complained that the WTO has been unfair to the United States despite the fact the USA has won most of the disputes against China and others.

Senate Foreign Relations Committee chair Bob Corker, a Tennessee Republican, ran out of patience on Tuesday, saying Trump's tariffs 'are a massive tax increase on American consumers and businesses, and instead of offering welfare to farmers to solve a problem they themselves created, the administration should reverse course and end this incoherent policy'.

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"When Liverpool believe they need these kind of players, it its because they believe it is the best for them". If they believe it's the best for them, it's ideal for them. "We'll see on the pitch".

While the US claims the retaliation was "illegal", the Trump administration has acknowledged it is doing damage to American farmers and announced Tuesday it will provide up to $12 billion in aid to farmers hurt by trade tariffs.

And it is not just Europeans opposing these tariffs, but American companies as well. He repeatedly threatened to levy new tariffs on European autos, and his administration in May slapped import duties on steel and aluminum coming from Europe. "The farm economy can not take this and we need to get back to work and increase these exports". "Are we just going to continue and let our farmers and country get ripped off?"

Officials say they will be using a Depression-era program, the Commodity Credit Corporation, to secure money from the U.S. Treasury and will not need to ask Congress for the funds.

Soybeans being sorted according to their weight and density on a gravity sorter machine at Peterson Farms Seed facility in Fargo, North Dakota, U.S., December 6, 2017.

The US Commerce Department held a hearing on Thursday into its investigation over whether imported vehicles and parts pose a national security risk. The EU charges a 10 percent tariff on imports of USA automobiles, and the United States has a 2.5 percent tariff on European cars.

As U.S. soybean farmers have struggled against retaliatory tariffs, Juncker said the European Union "can import more soybeans from the U.S. and it will be done".

He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that past year totalled £254 billion.