Trump celebrates 'American pride' by inspecting US-made goods

Devin Lawrence
July 24, 2018

Officials said the plan would not require congressional approval and would come through the Commodity Credit Corporation, a wing of the department that addresses agricultural prices.

The Trump administration will reportedly give $12 billion in aid to farmers hurt by the tariffs.

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".

That's according to two people who have been briefed on the plan who spoke on condition of anonymity ahead of a formal announcement.

After Trump announced plans to impose $50 billion in tariffs on Chinese imports, Beijing retaliated with plans to impose tariffs on a range of agricultural products from the USA including soybeans, grains, meats and dairy products.

But the taxes also exact a toll on US businesses and consumers, which pay more for imported products.

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They include such iconic American brands as Campbell Soup and Lockheed-Martin - which will have a model F-35 fighter jet on the White House lawn - to obscure manufacturers who make wine, brooms, horseshoes and animal feed.

The administration has also engaged in hardline trading negotiations with Canada and European nations, seeking to renegotiate agreements he says have undermined the nation's manufacturing base and led to a wave of job losses in recent decades. After Trump hit China with tariffs, they responded with a 179 percent retaliatory tariff on us sorghum. Trump has threatened to ratchet that up to more than $500 billion, a move that has left financial markets uneasy. The U.S. and European allies have been at odds over the president's tariffs on steel imports and are meeting as the trade dispute threatens to spread to automobile production.

Using government power to dig economic holes and then fill them up: isn't that what it means to Make America Great Again?

You read that and wonder if Trump took a single economics class at the University of Pennsylvania, but it's not an entirely unpopular position.

If Trump imposes a 25 percent tariff on imports of cars, trucks and auto parts, it "risks dragging us all down to a game of tit for tat retaliations that ultimately leave consumers in the U.S.as well as in Europe worse off", said Professor Alexander Mattelaer of the Egmont Institute think tank.

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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