Donald Trump strikes trade deal with E.U

Trump Offers $12 Billion Aid To US Farmers Hit By Tariff War With China

"We met right here at the White House to launch a new phase in the relationship between the United States and the European Union - a phase of close friendship, of strong trade relations", USA leader Donald Trump said, unveiling the accord next to European Commission president Jean-Claude Juncker.

Trump said Europe agreed to increase purchases of USA liquefied natural gas and lower trade barriers to American soybeans, aiding U.S. farmers and the energy sector.

On another front, Mr. Trump's administration has hit even its close allies the European Union (EU), Canada and Mexico, with levies on steel and aluminium exports to the United States, prompting retaliation against iconic US products, including bourbon whiskey and orange juice. US President Donald Trump suggested on late Tuesday that the European Union should simultaneously with the United States lift all customs tariffs, trade barriers and subsidies.

Trump said they'll work to resolve the steel and aluminum tariff issues, calling it "a new phase in the relationship" between the USA and the European Union, and "a very big day for free and fair trade".

In other words, fearful that Trump was about to turn the trade war nuclear with auto tariffs (against the advice of his own staff, per WaPo), it sounds like Juncker did some eleventh-hour diplomacy to hold him off. Today's agreement specifically deals only with "non-auto industrial goods" but Juncker and his team have been hammering the point that they hope/expect that no further tariffs will be imposed by either side so long as negotiations are ongoing.

Beijing imposed tariffs on $34 billion worth of United States products, including soybeans, earlier this month.

"This is a short-term solution that will give President Trump and his administration the time to work on long-term trade deals", said Agriculture Secretary Sonny Perdue as administration officials argued that the plan was not a "bailout" of the nation's farmers.

Corker said farmers want 'trade, not aid'.

Mark Martinson, who raises crops and cattle in north-central North Dakota and is president of the US Durum Growers Association, said the $12 billion figure "sounds huge" but there are many farmers in need. Sens. Doug Jones, D-Ala., and Lamar Alexander, R-Tenn., on Wednesday introduced legislation that would delay Trump's planned auto tariffs.

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High tariffs disrupt normal marketing patterns, affecting prices and raising costs by forcing commodities to find new markets.

The negotiations at the White House came as Trump has provoked a series of trade disputes with global trading partners, including China, whom he accused of employing "vicious" tactics aimed at hurting American farmers. But Trump tweeted Wednesday urged concerned parties to "be cool".

After emerging from the White House, he described his talk with Mr Trump as a "good and constructive meeting".

He also said they pledged that both the US and European Union would appoint representatives to negotiations on the details on the new agreement "right now".

Trump called out the names of several Senators present at the joint press conference.

Highlighting the complexity of Wednesday's talks, hours before Trump called for the elimination of all tariffs, he had tweeted that "tariffs are the greatest".

Facebook's $151 billion rout could rewrite history as the biggest stock-market wipeout in the U.S. But the country has been pursuing other avenues as trade tensions with the United States have flared. "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".

"That indicates [the US] will likely stand ground with the tariffs against China through the fourth quarter, when there are midterm elections in the USA and soy harvests begin in the northern hemisphere, and into the spring of 2019", he said.

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