The US government wants to support US farmers affected by trade dispute with China and EU’s veins with a subsidy of billions. Agriculture ministers Sonny Perdue said in Washington, subsidies should amount to a total of up to twelve billion dollars (10.3 billion euros). The aid should refore be channelled, among or things, to soya farmers affected by increased Chinese import duties.
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The Washington Post reports that support should be given in form of direct aid, a programme for purchase and distribution of foodstuffs, and a trade promotion programme.
The Politico Information Service reports that emergency aid should ensure that US farmers do not have to bear brunt of US escalating trade disputes with China, EU, and or major trading partners. In addition, re should be two programmes under a Agrargesetzes Bereitgestelltwerden, which is currently being discussed in US Congress, says report.
US president Donald Trump is to speak at meeting of Veterans organization VFW in Kansas City on Tuesday, a center of US agriculture. According to data, aid should be directed to farmers suffering from tariffs of US trade partners.
Trump had imposed duties on imports from major trading partners, who in turn responded with import duties on food from United States. Farmers in United States are important supporters of Trump and his Republican Party. In fall, elections are held in USA, part of Congress is n redefined.
“Customs duties are biggest”
As a result of trade dispute, EU Commission leader Jean-Claude Juncker travels to Washington on Wednesday to Trump. The EU’s main objective is to avoid an escalation of trade conflict and to prevent Trump from imposing specific tariffs on autoimports. Above all, se would hit German economy significantly more than already existing levies on steel and aluminium products.
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Trump, however, had once again made it clear that he was holding customs duties for right way. “Tariffs are biggest,” twittered US president. Or countries would have choice, he wrote. You könnteneine a fair agreement with United States or you would have to live with charges.
Meanwhile, a large US company is already reporting profit losses as a result of trade dispute. The motorcycle manufacturer Harley Davidson said that net profit in previous quarter had fallen to 242.3 million dollars – six percent less than in same period last year. The reason is EU customs duties with which Union had reacted to previously imposed charges of US on steel undAluminiumimporte from Europe.
