The fart of a deal that Trump claims to be negotiating on our behalf to make America’s economy great again reeks of stupidity. The president is simply fluffing his way through the next election cycle and I, as well as millions of others am not impressed with his act on the global stage.
Retaliatory tariffs from both the EU and China have already affected US farmers who voted heavily for Trump and were already struggling under the weight of increasing debt and decreasing incomes. Again, by oversimplifying the complexities of agriculture in the United States, and aggravating the woes of farmers , along with crass disregard of climate change, the Genius-in-Chief, has only obfuscated matters with stark narcissism in tow.
All of this comes amid an uncertain harvest. Heavy rains on the Great Plains have made it difficult for the USDA to project the overall size of the critical corn and soybean crops. As the fields dry and the harvest comes in, every additional bushel will push prices lower — forcing farmers to take out still more loans and to rely ever more on federal subsidies. Trump, in the meantime, has proposed slashing or even eliminating these lifesaving supports — and other federal programs that have been critical to rural communities.
Perspective | Farmers voted heavily for Trump. But his trade policies are terrible for them.
Rick Hammond said he wasn't worried. In more than 30 years of working his wife's fifth-generation farm in York County…
“Every time I see a weak politician asking to stop Trade talks or the use of Tariffs to counter unfair Tariffs, I wonder, what can they be thinking?” Trump said. “Are we just going to continue and let our farmers and country get ripped off?”
The predicaments of an indefatigable farming industry is layered by domestic policy approaches that compound global trade agreements that undermine the marketplace.
These farmers’ frustration is understandable. In Trump’s maniacally nationalistic dreamscape, American industries might be getting killed by rotten trade deals; but in reality, the United States heavily subsidizes its domestic agriculture — in ways that give it an unfair advantage in the global ag trade — and America’s allies have largely tolerated this arrangement.¹
Obviously, the dealmaker is running into a few snags in his negotiation process and I am quite certain Trump is placing the blame on people “snipping at his heels”. Trump has ordered the U.S. Agriculture Department to grant $12 billion dollars in emergency aid relief for farmers caught in the crosshairs of Trump’s trade wars.
The National Farmers Union estimates that the tariffs foreign countries have placed on American farm products — in retaliation against Trump’s various tariffs — have already cost U.S. agricultural interests $13 billion. Meanwhile, the uncertainty that Trump has engineered about NAFTA’s future has led Mexican millers and grain traders to reduce their reliance on American wheat. In recent months, such Mexican firms have increased their purchases of Russian wheat, and are now planning to import large quantities of wheat from Argentina’s burgeoning grain exporters. As a result, U.S. wheat exports to Mexico fell 38 percent in the first five months of this year, according to Reuters.¹
The emergency aid package, which I must remind you is very much a form of socialism for Republicans, will do nothing to dampen the effect of China’s retaliatory actions.
In a fit of utter derangement Trump has compounded the situation by threatening to escalate the tariff war on the already imposed steel and aluminum with the European Union. A 25% tariff on about $200 billion dollars worth of US auto imports was made to browbeat the EU into relenting on their retaliatory tariffs.
Trump is barreling ahead with a plan to slap massive tariffs on cars while his advisers furiously…
Advisers are said to be rushing to stop President Donald Trump from imposing 25% tariffs on $200 billion worth of…
On Wednesday the president of the European Commission paid Trump a visit to deescalate this trade war. Mr. Jean-Claude Juncker is reported to have given a Trade for Dummies explanation of the economic relationships between the U.S. and the EU to the WHarton business school alum.
Backing up his points, Mr. Juncker flipped through more than a dozen colorful cue cards with simplified explainers, the senior EU official said. Each card had at most three figures about a specific topic, such as trade in cars or standards for medical devices.
“We knew this wasn’t an academic seminar,” the EU official said. “It had to be very simple.”
Trump has recently said that free and fair trade deal has been preliminarily reached with the EU. Do you know what that means? It means that the crisis Trump created was saved by Trump again. It means that whatever that was in place to begin with will ultimately remain in place with no clear resolution. If you don’t believe me just read the excerpt from the White House press statements.
The United States and the European Union together count for more than 830 million citizens and more than 50 percent of the global GDP. In other words, together, we’re more than 50 percent of trade. If we team up, we can make our planet a better, more secure, and more prosperous place.
Already today, the United States and the European Union have a $1 trillion bilateral trade relationship — the largest economic relationship anywhere in the world. We want to further strengthen this trade relationship to the benefit of all American and European citizens.
This is why we agreed today, first of all, to work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods. (Applause.) Thank you. Thank you. Thank you.
Sounds a lot like the stuff in the Transatlantic Trade and Investment Partnership proposed by the Obama Administration that Trump ripped up right?!?
Admit it, you fell for the okie-doke and “level the playing field” sophism. What he is selling is not morally or ethically achievable with having it both ways in a two-way market that has low barriers to trade. Tariffs is not a strategy, or a leverage, nor an inducement. If you would like to save the remaining bit of face you have now I suggest you go get YOUR Boy this November and reign him in.