Trump planning emergency aid to farmers affected by tariffs

50/50 split of US and EU flags

Trump said the talks would "resolve" both the hefty tariffs the USA had placed on imports of steel and aluminum from the European Union and the tariffs Europe had slapped on U.S. goods in response.

Earlier in the Oval Office, Juncker told Trump that the two trading partners were "allies, not enemies", and said they needed to work together to address recent frictions involving Trump's threats to impose tariffs on auto imports and European Union plans to retaliate.

"While we are working on this, we will not go against the spirit of this agreement unless either party terminates the negotiation", Trump said.

Before departing for Kansas City, Trump tweeted that any US trade partner needs to either negotiate a 'fair deal, or it gets hit with Tariffs.

Agriculture Secretary Sonny Perdue said Tuesday the emergency aid package will use existing funding to mitigate the estimated $11 billion impact of "illegal tariffs" other countries have imposed on U.S. agriculture exports. "Maybe we can work something out", he said.

Trump and Juncker took no questions after their brief remarks in the Rose Garden, an impromptu appearance scheduled after about three hours of talks.

Young was also asked by Camerota about his Republican colleagues Reps.

"I can't think of another time when you had as many battles and particularly as many battles with no resolution in sight", said Edward Alden, senior fellow at the Council on Foreign Relations. "It's a first step". "The farm economy can not take this and we need to get back to work and increase these exports". "But it's been hard these last few weeks to see any light at the end of the tunnel", with no signs of progress with the EU, Mexico, Canada or China.

SHORT TERM TRADER: Short at 12545; stop above 12800.

More news: Molinari hopes victory inspires Italy like Rocca did for him

"We tried earlier in the framework of negotiations on the Transatlantic trade and investment partnership (TTIP) to get the U.S. to weaken these laws".

"They sold it as something very positive, but for me the announcement is not as big for now, because it's kind of a semi-truce", Marie Kasperek, associate director of the global business and economics program at the Atlantic Council, said by phone. But they also exact a toll on domestic companies and consumers through higher prices on imported goods when American trading partners retaliate.

"We hope that it doesn't come to that and that we can a solution".

The United States has been looking to support farmers hurt by the tariffs imposed on US products and this week announced a $12 billion support package.

Trump tells workers gathered at U.S. Steel's Granite City Works' Steel Coil Warehouse that other countries were able to target U.S. workers and companies and steal U.S. intellectual property.

Trump has placed tariffs on imported steel and aluminum, saying they pose a threat to US national security, an argument that the European Union and Canada rejects.

"We have identified a number of areas on which to work together", Juncker said at the joint conference.

The European Union has warned that it will retaliate with tariffs on products worth 20 billion dollars (£15 billion) if Mr Trump puts duties on cars and vehicle parts from Europe.

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