That notwithstanding, Trump said there is a "good possibility" Washington will reach an agreement with Beijing to end the escalating trade conflict, and that "it's possible that Huawei would be included in a trade deal".
Speaking to the BBC, the chairman of the American Chamber of Commerce in China, Tim Stratford, said its members had "real concerns" about the fallout from the U.S. action against Huawei.
All told, tax payments from the latest round of tariffs come to about $26.9 billion a year, or $211 for each USA household, while deadweight losses came to around $79.1 billion, or $620 per household, the report found.
There were high hopes early this month that a resolution with China was within striking distance but that optimism largely evaporated when Trump said Beijing had backed away from commitments considered already settled.
The rest of the package includes $1.4 billion to purchase surplus food commodities from farmers and distribute them to USA schools and food banks, and $100 million to help develop new export markets overseas.
Similar to the aid package announced past year, farmers can apply for direct payments for crops impacted by the tariffs and USDA will buy surplus products like milk and meat to distribute to food banks around the country.
Crops covered include alfalfa, barley, canola, corn, lentils, rice, peanuts, chickpeas, sorghum, soybeans, sunflower seed and wheat.
China retaliated by announcing plans to raise levies on $60 billion (Sh6 trillion) of U.S. imports from June 1.
62,000 Pounds Of Ground Beef Recalled Due To Possible E. Coli Contamination
Consumers concerned about illness from the recalled beef should contact their healthcare provider. Hemolytic uremic syndrome (HUS), a type of kidney failure, is uncommon with STEC O103 infection.
Doncic, Young unanimous All-Rookie picks
Each are among the finalists for NBA Rookie of the Year, which will be announced June 24 at the NBA Awards in Los Angeles . Players received two points for each First Team vote and one point for each Second Team vote.
Pakistan conducts successful launch of Shaheen-II ballistic missile
On Thursday, a Pakistani foreign ministry spokesman said the Kashmir dispute could only be resolved through implementation of U.N. Security Council resolutions that call for an end to hostilities and a plebiscite in the region.
One thing's clear - farmers just want the dispute to be over and get back to what they do best.
"We're going to help out our farmers and we're giving them that level playing field that is so important".
"According to our estimates, these higher tariffs are likely to create large economic distortions and reduce USA tariff revenues", according to a blog post Thursday by Mary Amiti, assistant vice president at the New York Fed, Stephen Redding of Princeton University and David Weinstein of Columbia University. Do they pay most of it?
"The president feels that China is paying for this program through the tariffs", Perdue said.
China held the door open to resuming talks in the tariff war with Washington on Thursday, but lashed out at limits on access to key technologies that it said might hurt global supply chains. A combination of weather and world trade is hitting them hard.
Trump's plan calls for $14.5 billion of the relief funds to be given to producers in three separate allocations through the Market Facilitation Program.
He more than doubled existing punitive tariffs on US$200 billion in Chinese goods, and threatened to hit all the goods that had been spared so far.
Previous year the administration doled out $12 billion in aid to boost farmers. They have focused on USA agricultural exports in a direct shot at Trump's supporters in rural America.