Trump, EU Chief Agree to Pursue Trade Peace Pact

Trump, EU Chief Agree to Pursue Trade Peace Pact

Farmer John Duffy loads soybeans from his grain bin onto a truck before taking them to a grain elevator on June 13 in Dwight, Illinois.

March: US announces tariffs on foreign steel and aluminium.

Perdue calls the plan a "temporary measure", saying it would help farmers bounce back from the trade war fallout. "We want free and open trade", said Eric Maupin of the American Soybean Association Executive Committee.

The news lifted shares of farm equipment companies on the prospect that farmers will have more money to spend on tractors and other farm gear.

But at home, Trump is facing increasing criticism as consumers, farmers and businesses take a hit from the retaliation to the raft of U.S. tariffs on steel, aluminum, and tens of billions of dollars in products from China that he has imposed in recent weeks.

Trump crowed Tuesday that his latest threat had brought Europe to the negotiating table.

President TrumpDonald John TrumpMeadows threatens to force a vote on Rosenstein impeachment Republican feels "victimized" by Twitter "shadow banning" GOP senators surprised to attend Trump's tariffs announcement MORE hailed an agreement with European Commission President Jean-Claude Juncker in which the EU would buy more American products, work to lower tariffs on industrial goods and halt implementation of additional tariffs in the interim. In Alabama, our auto manufacturers, small business owners, and everyday consumers will face heavy losses if Trump follows through on his proposed tariffs. I think the European Union is a foe, what they do to us in trade. It's as simple as that - and every body's talking! "It's not true. Workers have created this bounty and governments are the ones messing it up".




"About one in every three rows of soybeans we raise is exported to China they account for about 60% of the USA exports of soybeans are a big deal but pork has been greatly impacted as well by reduction in exports to China and through NAFTA to Mexico most of our meat and livestock products, dairy and beef as well, impacted a lot", Ag Expert Kent Thiesse added. Debt-to-income ratios for farmers are at a 34-year high. It also is "a firm statement the United States won't cave in" to other nations, he added.

"This consistent and retaliatory taxing system called tariffs, is not the way to find prosperity for the state of Wisconsin", Rep. Steffen tells Action 2 News. "For decades, we've seen tariffs, we've seen barriers to selling product, and it needs to be fixed".

Trump is meeting with European Commission President Jean-Claude Juncker (zhahn-KLOHD' YUN'-kur) on Wednesday.

While the transatlantic mood was improving, "this deal, along with the breakdown of a large M&A deal, leave investors fearing that the trade war has just turned even more so on China", Citi analysts told clients.

"This administration's tariffs and bailouts aren't going to make America great again, they're just going to make it 1929 again", he said in a statement.

The president, who former White House chief strategist Steve Bannon last week said is "attracted" to strongman leaders, offered some advice on toughness to his trade skeptics: "No weakness!"

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