Trump, Juncker announce deal pulling back from US-EU trade war

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Republicans laid into the tariffs on Tuesday amid the standoff.

Pennsylvania farmers greeted the Trump Administration's announcement Tuesday of $12 billion in emergency aid to agriculture with mixed emotions.

The administration said the program was just temporary.

Juncker's visit comes amid an escalating trade war between the US and the the wake of Trump's decision to slap tariffs on imports of aluminum and steel last month.

Juncker said both sides agreed to "hold off on other tariffs" while talks proceed.

The relief package is intended as a temporary boost to farmers as the USA and China negotiate over trade issues, officials said. John Kennedy, R-La. "You've got to treat everybody the same".

They also agreed to increase trade in services and agriculture, including greater United States soy bean exports to the EU.

"They have a positive attitude going into this".

The aid program will go into effect on September 4, right after Labor Day.

The food purchased from farmers would include some types of fruits, nuts, rice, legumes, dairy products, beef and pork, officials said.

Richard Bush, a China expert at the Brookings Institution in Washington, said Beijing was apparently frustrated that a series of trade talks with the Trump administration had yielded few concrete results, largely due to Trump's unpredictability and the lack of coherent policy and strategy concerning China and trade issues generally.

Meanwhile, the first diplomatic source said, US-China diplomacy is progressing only on the sub-national level, between US state governors and their Chinese counterparts and potential investors. "They sound nice, but they're rough". "We're opening up markets. The programmes we are announcing today help ensure our nation's agriculture continues to feed the world and innovate to meet the demand", Mr Perdue said.

All programs are supported under the Commodity Credit Corporation, and the package does not require Congressional approval. Soybean prices have plunged 18 per cent in the past two months.

China targeted tariffs on US farm products after Trump imposed new steel and aluminum tariffs earlier this year, selecting crops and products in areas where Trump enjoys support.

And Senator Rand Paul tweeted that "Tariffs are taxes that punish American consumers and producers". He told reporters he entered Wednesday's meeting with the intention of reaching an agreement with Trump. 'If tariffs punish farmers, the answer is not welfare for farmers - the answer is remove the tariffs'.

White House economic adviser Larry Kudlow has said he expected Juncker to come with a "significant" trade offer. He said the lawmakers told the president "that our farmers want markets, and not really a payment from government". While a trade mitigation package could boost farmer morale in the short term, this is ultimately a short term fix.

He confirmed that the European Union will build more terminals in order to import liquid natural gas (LNG) from the US.

China is the largest buyer of US soybeans, importing about $14 billion worth of the legume in 2016, according to the US Department of Agriculture.

"So just in that market alone I think the United States is very exposed". "I think it will only put out the fire a little bit".

"This means making ourselves more united and more responsible at home. The underlying problem is still there".

Tariffs on US goods have impacted all sectors of the economy, according to the USDA's trade counsel to the secretary, Jason Hafemeister.

The meeting comes at a critical time for the trade relationship between the European Union and the U.S. After the 10 percent tariff on aluminum and 25 percent on steel, The Washington Post reported that Trump is considering slapping a 25 percent tariff on automobiles, an idea that has drawn fierce criticism from European Union officials - from where many U.S. auto imports originate.

In the photo, the president can be seen sharing a hug and a kiss on the cheek with Jean-Claude Juncker, who now serves as president of the European Commission.