The Trump administration readied a plan Tuesday to send billions in emergency aid to farmers who have been caught in the crossfire of President Donald Trump's trade disputes with China and other USA trading partners.
Amid rising trade tensions, President Donald Trump on Tuesday praised tariffs - calling them the "greatest" - ahead of a meeting with European Union officials in Washington. Trump wrote in a Twitter post Tuesday, warning countries must negotiate a "fair" trade deal or they will get hit with tariffs.
Those four, as well as Turkey, were slapped with disputes at the World Trade Organization by the U.S.
Trump Backtracks, Says He Misspoke in Helsinki Summit With Putin
Putin and Trump sat down in Helsinki for a historic meeting in which they held four hours of talks between Moscow and Washington . John Cornyn of Texas, said sanctions may be preferable to a nonbinding resolution that amounts to "just some messaging exercise".
The President has engaged in hardline trading negotiations with China, Canada and European nations, seeking to renegotiate trade agreements he says have undermined the nation's manufacturing base and led to a wave of job losses in recent decades. One week later, autoworkers, foreign ambassadors, and lawmakers spoke out against new potential tariffs against imported cars and auto parts. Trade agreements with those countries have undermined the USA manufacturing base and led to a wave of job losses in recent decades, according to Trump.
Canada, Mexico and the European Union also struck back at Trump's leveling of United States steel and aluminum tariffs by hitting USA exports of agriculture products and other heavily exported U.S. goods. But conservative critics of the White House's approach said on Tuesday that Trump's move to offer rescue funds to farmers suggests the standoff with other countries won't end soon.
China has fought back with tariffs of its own, sparking a global trade war that some fear would plunge financial markets into chaos.