President Trump on EU Trade Negotiations: Better Late Than Never

Trump Tapping $12B to Help Farmers Affected by Tariffs

The administration has slapped tariffs on $34 billion in Chinese goods and China retaliated with duties on soybeans and pork.

Rural, agricultural states have been particularly hard hit by U.S. President Donald Trump's trade policies, and the majority of voters in those states backed him in the 2016 election.

In Kansas City, meanwhile, Trump told a veterans convention that he was trying to renegotiate trade agreements that he said have hurt American workers, and he asked for patience ahead of key talks.

The administration is expected to roll out the plan Tuesday afternoon, a source familiar with the matter confirmed to CNN, offering much-needed support to farmers caught up in the burgeoning trade war.

President Trump touted his tough trade polices Tuesday, calling tariffs "the greatest", after announcing that countries caught up in tense trade relations with the US would visit to negotiate. America's farmers don't want to be paid to lose - they want to win by feeding the world.

Trump has threatened to place penalty taxes on up to $500 billion in products imported from China, a move that would dramatically ratchet up the stakes in the trade dispute involving the globe's biggest economies.

In a follow up tweet he reaffirmed the administration's tough stance on trade, explaining "either a country negotiates a fair deal - or gets hit with tariffs".

More news: Pakistan's batsman Fakhar Zaman continues to break records

U.S. President Donald Trump walks up a driveway prior to delivering remarks at a showcase of American-made products at the White House on July 23, 2018.

The imposition of punishing tariffs on imported goods has been a favoured tactic by Trump, but it has prompted US partners to retaliate, creating risks for the economy.

To date, every time that the Trump administration has imposed a tariff on China, China has imposed an equal tariff on US goods. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that previous year totaled $335 billion.

"We're stopping the barriers to other countries". They are meant to protect domestic businesses and put foreign competitors at a disadvantage.

In addition to the direct impact of tariffs on American farm products, farmers have also been hurt by USA tariffs on foreign steel imports. "This administration's tariffs and bailouts aren't going to make America great again, they're just going to make it 1929 again".

On Wednesday, European Commission President Jean-Claude Juncker will meet with Trump at the White House to discuss a "wide range of issues" - a week after the president referred to the European Union as "a foe".

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