Trump buys off soybean farmers (we’ve got the transcript!)

Nebraska senators react to $12B plan to assist farmers affected by tariffs

Congressman Robert Aderholt told WHNT News 19 he applauds the president saying, "I applaud President Trump for standing up to China and other foreign government's unfair trade practices". "If we team up, we can make our planet a better, more secure, and prosperous place".

Oxford Economics has calculated that a full-blown US-China trade war would shave 1 per cent off the US economy and wipe out 700,000 jobs in the United States by 2020. The largest economic relationship anywhere in the world.

Mr Trump said the European Union had agreed to buy "a lot of soybeans nearly immediately", and increase its imports of liquefied natural gas from the US.

European countries are also utterly devoted to one of the biggest barriers in EU-U.S. trade: geographical indications. But he said reaching a detailed trade agreement with the European Union would probably prove very hard.

Trump then moved to the second portion of the agreement, "strengthening of [America's] strategic cooperation with respect to energy".

The United States exported $138 billion in agriculture products in 2017, including $21.5 billion of soybeans, the most valuable export. It also will provide funds to outside organizations to build overseas markets for USA food and ag exports.

The mini-deal they reached, however, amounts mostly to an agreement to keep talking.

The negotiations at the White House came as Trump has touched off a series of trade disputes with global trading partners, including China, whom he accused earlier Wednesday of employing "vicious" tactics aimed at hurting American farmers.

Trey Gowdy says Russian meddling clear, Donald Trump must 'act like it'
Trump also asserted, without evidence, that his campaign had been illegally spied upon by the Federal Bureau of Investigation . While he said Page was no "James Bond", the adviser had connections to the Kremlin that predated his involvement with Trump.

Trump and Juncker agreed to immediately set up an executive working group comprised of "very intelligent people on both sides" to be their "closest advisers" and carry out the joint agenda.

"I'm ready to go to $500 [billion]", Trump said.

The United States earlier this month imposed 25% tariffs on $34 billion worth of Chinese products, drawing a tit-for-tat response from Beijing, which targeted politically sensitive U.S. agricultural products.

"Without strong European answers, there is a danger that only we will make concessions and in response face new unreasonable demands from the U.S.", he said, calling for a comprehensive agreement that followed the guidelines of the World Trade Organisation (WTO).

"Any time there are trade issues, embargoes, that sort of thing, or tariffs, it has been negative for agriculture", Recker said.

Trump has long said he would prefer no tariffs, and is only slapping them on goods in response to "unfair" existing tariffs on US goods. He echoed President Trump and efforts to strengthen energy cooperation and importation of LNG. "Our emphasis continues to be for a swift and sure end to the trade war and tariffs impacting American agriculture".

Treasury Secretary Steven Mnuchin told CNBC there was "groundwork laid" to resolve steel and aluminum tariffs, and that there would be no new tariffs in either direction while talks were ongoing.

"This is a short-term solution to allow President Trump time to work on long-term trade deals to benefit agriculture and the entire USA economy", said Sonny Perdue, the secretary of agriculture, in a statement. And he name-checked each one as they watched his hastily planned joint press conference with Juncker.

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