Saturday, 18 August, 2018

Trump plans to give billions in aid to farmers hurt by tariffs

Trump Tapping $12B to Help Farmers Affected by Tariffs Trump Plans Farm Bailout To Deal With Backlash To His Trade War
| 24 July, 2018, 21:24

This year's showcase comes during a contentious period in USA trade relations, after the Trump administration targeted China and some U.S. allies with steep tariffs on a variety of goods.

The Agriculture Department is announcing a $12 billion "short-term" plan to help US farmers hurt by retaliatory tariffs.

Punishing tariffs have been introduced on imported goods from Canada, China, and the EU.

The Agriculture Department was expected to announce the plan later Tuesday. It involves direct payments to farmers, the purchase of excess food and trade promotion programs to help create new export markets.

Before departing for Kansas City, Trump tweeted that USA trade partners need to either negotiate a "fair deal, or it gets hit with Tariffs".

To date, every time that the Trump administration has imposed a tariff on China, China has imposed an equal tariff on USA goods. Sasse released a statement saying "This trade war has been cutting the legs out from under farmers and White House's "plan" is to spend $12 billion on gold crutches".


After Trump announced plans to impose $50 billion in tariffs on Chinese imports, Beijing retaliated with plans to impose tariffs on a range of agricultural products from the United States including soybeans, grains, meats and dairy products. America's farmers don't want to be paid to lose - they want to win by feeding the world.

"Tariffs are the greatest!" the president wrote on Twitter.

Farmers have been hit especially hard after our trade partners issued retaliatory tariffs on billions of dollars worth of goods following Trump's 25% and 10% tariffs on steel and aluminum, respectively. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that previous year totaled $335 billion.

Trump's tweet comes as he is scheduled to meet with European Commission President Jean-Claude Juncker in Washington tomorrow for talks aimed at heading off a trade war.

Canada, Mexico and the European Union also struck back at Trump's leveling of USA steel and aluminum tariffs by hitting U.S. exports of agriculture products and other heavily exported United States goods.

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