Trump threatens more tariffs on US trading partners

Anna Jefferson
July 24, 2018

It also comes amid recent reports that Mexico is aiming to reach a deal on the North American Free Trade Agreement with the US and Canada by the end of August to take some of the heat off incoming President Andres Manuel Lopez Obrador.

The Agriculture Department is announcing a $12 billion "short-term" plan to help US farmers hurt by retaliatory tariffs.

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

The administration's plan will rely on commodity support programs in the farm bill as well as the Agriculture Department's authority to stabilize farmers during times of turmoil, according to a report in Politico.

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The $12 billion will reportedly come in the form of direct assistance, a food purchase and distribution program, and a trade promotion program. Retaliatory tariffs against the United States have included additional export costs for soybeans, pork, and beef, among other goods and services.

The Trump administration has slapped tariffs on $34 billion in Chinese goods in a dispute over Beijing's high-tech industrial policies.

"Tariffs are the greatest!" the president wrote on Twitter.

Sen. Ben Sasse, R-Neb., said the plan would spend billions on "gold crutches".

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Ryan said he understood Trump's goal - of trying to get a "better deal for Americans" - but he disagreed with the president's strategy.

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. "Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs". He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that previous year totalled $335 billion.

He promised to protect US workers and promote American industry after threatening to impose another $500 billion in tariffs on Chinese exports - a move expected to bring more Chinese retaliation against USA goods.

On Monday, the White House confirmed that Trump was considering removing security clearances from Brennan and other former officials.

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