Read more at https://www.channelnewsasia.com/news/business/trump-eu-s-juncker-agree-to-ease-trade-tensions-10563206
(Updated: )
Ricky Lim
Juncker said the EU already imports 35 per cent of its natural gas from US producers, but will work to buy more.
While the US president can claim his aggressive approach is working, consumers, farmers and businesses are feeling the pain from the retaliatory measures imposed to counter the raft of US tariffs on steel, aluminium, and tens of billions of dollars in products from China put in place in recent weeks.
While the US claims the retaliation was "illegal," the Trump administration has acknowledged it is doing damage to American farmers, and announced on Tuesday it will provide up to US$12 billion in aid to farmers hurt by trade tariffs.
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EU easing trade tension with US - is a relief.
But it does not help when Trump is sill launching a trade war with China and other Countries such as Canada, Mexico, Japan, India and others.
(1) China has more than 1 billion consumers as oppose to EU about 500 million consumers. US farmers will still face substantial loss when China stop buying even though EU can provide some relief.
If US farmers lose China market, they will permanently lose it.
(2) Trump US$12 billion relief for US farmers is only one off - good up to mid term election in Nov.
When election is over, US farmers is on their own - as China market is lost permanently - can operate with 50% capacity to EU or close shop.
While the US president can claim his aggressive approach is working, consumers, farmers and businesses are feeling the pain from the retaliatory measures imposed to counter the raft of US tariffs on steel, aluminium, and tens of billions of dollars in products from China put in place in recent weeks.
While the US claims the retaliation was "illegal," the Trump administration has acknowledged it is doing damage to American farmers, and announced on Tuesday it will provide up to US$12 billion in aid to farmers hurt by trade tariffs.
--
EU easing trade tension with US - is a relief.
But it does not help when Trump is sill launching a trade war with China and other Countries such as Canada, Mexico, Japan, India and others.
(1) China has more than 1 billion consumers as oppose to EU about 500 million consumers. US farmers will still face substantial loss when China stop buying even though EU can provide some relief.
If US farmers lose China market, they will permanently lose it.
(2) Trump US$12 billion relief for US farmers is only one off - good up to mid term election in Nov.
When election is over, US farmers is on their own - as China market is lost permanently - can operate with 50% capacity to EU or close shop.
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