As the US is gearing up to give $12bn in aid to American hit by retaliatory tariffs by the EU and Chine, President Donald Trump suggested in a tweet to EU to mutually abandon all duties and trade barriers.
“The European Union is coming to Washington tomorrow to negotiate a deal on Trade. I have an idea for them. Both the U.S. and the E.U. drop all Tariffs, Barriers and Subsidies! That would finally be called Free Market and Fair Trade! Hope they do it, we are ready – but they won’t!” Trump suggested on July 25.
Earlier in the day, the president said in a tweet: “Tariffs are the greatest.”
The $ 12bn aid to farmers is aimed to support US soybean growers and pork manufacturers, mostly exporting to China. Farmers “will be the biggest beneficiary” of trade talks, provided they will be “a little patient”.
“This is a short-term solution that will give President Trump time to work on the long-term trade policy and deal that will benefit agriculture as well as all sectors of the American economy,” said Sonny Perdue, the US agriculture secretary.
On Thursday, the EU representatives headed by European Commission President Jean-Claude Junker are coming to Washington to discuss the terms of trade barriers and duties.