12 billion in emergency aid to farmers

Sections SEARCH Skip to content Skip to site index Politics Subscribe Log In Subscribe Log In Advertisement Supported by ByJulie Hirschfeld Davis July 24, 2018 WASHINGTON — The Trump administration on Tuesday will announce up to $12 billion in emergency relief for farmers negatively impacted by the president’s trade war, according to two people familiar with the plans, in an effort to insulate food producers from looming financial losses that would be a direct result of Mr. Trump’s policies. The aid to farmers, to be announced by the United States Department of Agriculture, would come through a direct assistance program, one designed to help with food purchase and distribution, and one specifically geared toward promoting trade, according to one of the people. Both spoke on condition of anonymity because they did not have authorization to pre-empt a planned announcement later Tuesday. The move is an indication that … [Read more...] about Farmers to Receive Up to $12 Billion to Ease Pain From Trump’s Trade War

close Video Trump: We're now in the midst of a great economic revival President Trump on the state of the economy and efforts to improve U.S. trade deals. The Trump administration announced Tuesday that it will grant up to $12 billion in emergency aid to farmers hurt by retaliatory tariffs in the ongoing trade fight with China and other American trading partners. Secretary of Agriculture Sonny Perdue said that the plan, which will provide direct assistance and other temporary relief for farmers through the USDA’s commodity program, is meant as a stopgap measure that will give Trump time to negotiate a long-term policy with China, the European Union and others. The plan was announced as Trump spoke at the Veterans of Foreign Wars national convention in Kansas City, where he urged patience in dealing with the tariffs and claimed that “farmers will be the biggest beneficiary” of the trade deals in the end. “Farmers will be the biggest … [Read more...] about Trump announces emergency aid for farmers hurt by trade war, says they’ll win in the end

Agriculture Secretary Sonny Perdue on Wednesday defended President Donald Trump's decision to provide $12 billion in emergency relief for American farmers being hurt by foreign retaliation to the administration's tariffs. "There's not a farmer in this country that would rather not have a good crop and a fair price," Perdue told Fox Business' Maria Bartiromo on "Mornings with Maria." "The problem is, they haven't been getting fair prices because of restrictions of other countries placed on productivity. President Trump is the first one to call them on that." China, he added, has been "cheating for years ... it's like watching a game where the umpire is clearly prejudiced and nobody stops him." Trump on Wednesday morning, following Perdue's appearance, tweeted that China is specifically targeting farmers. China is targeting our farmers, who they know I love & respect, as a way of getting me to continue allowing them to take advantage of the U.S. They are being vicious in what will … [Read more...] about Perdue Defends $12B Farmer Relief Plan: Trump Fighting Unfair Trade

Spreading a bailout across all industries affected by the ongoing trade war would cost taxpayers $39 billion, according to a U.S. Chamber of Commerce analysis.  The Chamber opposes the billions in tariffs that President Donald Trump has slapped on a host of goods from China as well as steel and aluminum imports.  To compensate for the economic damage, Trump recently approved $12 billion in emergency aid for farmers who produce certain goods, particularly soybeans. The package was touted as a temporary solution while negotiations continue, but the president has taken seething criticism including from his own party and some farmers themselves.  In its study of what would happen should the aid program spread, the Chamber said the effects would be substantial.  Interactive: How Chinese Tariffs Target Trump Country "The best way to protect American industries from the damaging consequences of a trade war is to avoid entering into a trade war in the first place," … [Read more...] about Full-Scale Bailout for Industries Impacted by Tariffs Would Cost $39 Billion, Chamber of Commerce Says

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