EU Announce a Truce in Trade War

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

Highlighting the complexity of Wednesday's talks, hours before Trump called for the elimination of all tariffs, he had tweeted that "tariffs are the greatest".

Expectations of the announced deal, with reporters summoned to the Rose Garden for an announcement, sent the stock market soaring.

Following the meeting at the White House, the pair said the talks would seek to "resolve" USA tariffs on steel and aluminum and Europe's retaliatory duties - marking a step back from Trump's signature import protections for American metals producers.

'They're going to be a massive buyer of LNG, so they'll be able to diversify their energy supply, ' Trump said of Europe.

Trump hailed "a new phase" of trade relations.

The deal eases tensions for now stoked by Trump's threat to impose new levies on auto imports.

During a speech to the Veterans of Foreign Wars, the president said the result of his trade policies will be positive. Ulrike Demmer, a deputy government spokeswoman, reaffirmed Germany's backing for the Commission in future negotiations.

Trump has threatened to impose 25 percent tariffs on auto imports, a move that would hit European carmakers like BMW and Volkswagen VOWG_p.DE hard, as well as Japanese and South Korean vehicle companies.

"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?"

Turning and walking away from the lectern the US President reached his hand out to the President of the European Commission.

More news: Riders start 'most feared' stage in Tour de France

Mr Trump on Tuesday crowed that it was his tough stance and threats of auto tariffs that brought the European leader to the bargaining table.

"I would say most producers feel like they would rather not have the help, but if that (the trade war) is what they're going to do, we're at least glad that they're stepping in", Nichols said.

Aid will come in three ways: Direct payments to farmers who have been hurt by escalating trade tensions.

After the meeting, the US President tweeted: "Great to be back on track with the European Union".

Trump has also imposed tariffs on $34 billion of Chinese imports - a figure he has threatened to raise to $500 billion - in a dispute over Beijing's aggressive drive to supplant US technological dominance.

The truce may prove to be short-lived if the two sides can't resolve their differences over trade in vehicles and auto parts.

The U.S. Department of Agriculture says the $12 billion three-part plan will borrow money from the U.S. Treasury to pay producers of crops impacted by tariffs, one of those crops being Kansas' number one export to China, soybeans. He also serves as President for the Iowa Corn Growers Association.

Republican lawmakers who've grown anxious about Trump's trade strategy expressed cautious optimism.

Sasse also discussed the plan in an interview with CBS News Tuesday afternoon, in which he said, "At no point have I heard a farmer or rancher say we want more bailouts".

Related News:

  • Conservative lawmakers move to impeach Rod Rosenstein, who oversees Russia probe

    Conservative lawmakers move to impeach Rod Rosenstein, who oversees Russia probe

    The Justice Department essentially says it's trying to comply, but that these Republicans want a lot, and it takes times. Democrats have argued the focus on Rosenstein is an attempt to broadly undermine the Mueller investigation.
    US, North Korea to meet on Sunday over war remains

    US, North Korea to meet on Sunday over war remains

    However, they said that dialogue was contingent on the condition that North Korea give up its nuclear weapons. Trump noted Wednesday that there is "no rush" and that sanctions against the regime are still in place.
    Stocks waver, dollar slips as traders shrug off trade talk

    Stocks waver, dollar slips as traders shrug off trade talk

    That could in turn boost an economy that posted its slowest growth rate in almost two years - 6.7% - in the second quarter. The central bank says it bases the yuan's exchange rate on a basket of currencies but has never released details.
  • Toronto police searching for motive into deadly shooting

    Toronto police searching for motive into deadly shooting

    They are also appealing for witnesses and have been loading them onto several city buses to take them to local police divisions. On Tuesday, authorities said gunman Faisal Hussain had expressed support for ISIS and visited the terror group's websites.
    'Total jerk' fan steals game ball off little boy

    'Total jerk' fan steals game ball off little boy

    That's what the Cubs are saying after a grown man stole a baseball literally right from under a little boy at a game this weekend. You may have noticed that the kid has two baseballs.
    Alexis Sanchez trains with Man United teammates after landing in the USA

    Alexis Sanchez trains with Man United teammates after landing in the USA

    Anthony Martial's future is also up in the air after his agent, Philippe Lamboley, said in June the Frenchman wants to leave. Martial has been linked with a move away from Old Trafford after failing to become a starter for Jose Mourinho last season.
  • Flames ravage Greek seaside as wildfires kill over 70

    Flames ravage Greek seaside as wildfires kill over 70

    Greek health authorities could not immediately confirm the increase in the death toll as the bodies had not yet reached hospitals. Residents and visitors in the area did not escape in time even though they were a few metres from the sea or in their homes.
    Liverpool players on the move

    Liverpool players on the move

    When asked if he was confident of a challenge, the 55-year-old replied: "I don't answer your question". 'I don't know yet but I won't play for another club in England.
    Pharmacist refuses to fill transgender woman's hormone therapy prescription

    Pharmacist refuses to fill transgender woman's hormone therapy prescription

    The pharmacist "kept asking, loudly and in front of other CVS staff and customers, why I was given the prescriptions", Hall wrote. When no one addressed her concerns, she chose to file a complaint with the Arizona State Board of Pharmacy on Thursday.
  • Fiat Chrysler’s Sergio Marchionne dies after complictions from surgery

    Fiat Chrysler’s Sergio Marchionne dies after complictions from surgery

    Born in Italy, Marchionne's family emigrated to Canada when he was 13, and he had dual-citizenship. And the Italian passed away on Wednesday, John Elkann, his replacement as chairman, confirmed.
    Man City unveils new away kit for 2018/19 season

    Man City unveils new away kit for 2018/19 season

    If one player plays a lot of games, he can now have a rest - perhaps two games to see if he can recover. But after mixed spells, he lost his place in the England squad for this summer's World Cup.
    Donald Trump: 'Tariffs are the greatest!'

    Donald Trump: 'Tariffs are the greatest!'

    President Trump's tariff threats against China, Canada, Mexico and the European Union prompted immediate threats of retaliation. Trump wrote in a Twitter post Tuesday, warning countries must negotiate a "fair" trade deal or they will get hit with tariffs.


Most liked

Former cricket star Imran Khan's party claims victory in disputed Pakistan election
It still wasn't clear whether Khan's Tehreek-e-Insaf (PTI) would get a simple majority or have to form a coalition. Preelection polls suggested that the two parties were locked in a tight contest.

Midfielder Ramsey unsure of Arsenal future
Arsenal are in talks with Paris Saint-Germain over a potential deal for teenage centre-back Stanley N'Soki, according to a report. ARSENAL are on pre-season tour in Singapore, and today several of their players took the time to visit the Jurong Bird Park.

Trump blasts Cohen over tape disclosure
Though Trump can be heard using the word "cash", the meaning behind the word's use is still a matter of dispute on both sides. But what's new and especially threatening to Trump's presidency is Cohen's material, of which there seems to be plenty.

Zuckerberg Loses $16.8 Billion in a Snap as Facebook Plunges
Analyst Ross Sandler with Barclays asked if revenue growth was set to drop to "around 20% by the fourth quarter of this year". Facebook forecast similar increases for the second half of the year, also citing spending on video content and marketing.

China's Xi says 'no winner' in any trade war
Ramaphosa says he's concerned that global trade laws are being violated as a result of countries acting unilaterally. The summit runs through Friday with various heads of BRICS attending.

Trump claims 'illegal' spying after warrant papers unveiled
An initial Republican memo about the FISA warrant also claimed that the dossier's origins were not mentioned in the warrant. Page on Sunday denied claims that he worked for the Kremlin, and called accusations that he had advised Moscow "spin".

Schumer chides Trump for heated rhetoric on Iran
The group is called the Mujahedeen-e-Khalq, which means People's Mujahedeen Organization of Iran, also known by its initials MEK. Pompeo also addressed United States demands that the Iranian Regime stops repressing dissidents and funding terrorist groups.

David Villa: 'Manchester City can retain Premier League title'
That helps the team and that's the most important thing. "Football trainers, always we are in a unsafe position". If Liverpool believe they need these players for this kind of money, that's fine.

Theresa May takes control of Brexit talks
There's more speculation than ever that a Brexit deal won't be reached by next March, when the United Kingdom will leave the EU. European Union negotiator Michel Barnier is also lukewarm on May's latest proposal, asking many questions about its viability.

Pompeo says North Korea test site reports consistent with commitments
Secretary of State Mike Pompeo echoed Brook's statement, saying the challenge with North Korea is not over. The two sides continue diplomatic talks aimed at ending North Korea's nuclear weapons program.

Several dead, hundreds missing after dam collapse in Laos
SK E&C hold a 24 per cent stake in PNPC, LHSE 26 per cent, and RATCH and KOWEPO equally own the remaining share in the project. The plan was to export 90% of the electricity generated to Thailand , with the rest offered up on the local grid.

The moon will turn blood red in Canberra early on Saturday morning
One of those promoting the idea that the Red Moon marks the end of the world is a pastor called Paul Begley, who is from Indiana. The spectacle will be visible across Europe, Asia, Australia, Africa, South America and the Middle East , but not North America.

Weather: Showers, storms to move west to east
The threat of showers will wind down and end tonight as temperatures fall into the low to mid-60s under partly cloudy skies. Most of the day should be dry but the risk for storms will rapidly increase by the evening and especially overnight.

Nawaz Sharif protecting India's interests, alleges Imran Khan
The attack comes just days after the house of a senior leader of Balochistan Awami Party (BAP) was attacked in Gwadar. As polling day draws closer, political parties have redoubled efforts to secure votes from across the country.

Trump Pushing US Army to Invade Iran: Top General
But he said the Iranian "people and the armed forces will stand up against our enemies and will not come up short". Some experts say Kim is using diplomacy as a way to win outside concessions and weaken USA -led global sanctions.