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Trump To Give $12 Billion In Farm Aid To Offset Tariffs

Trump To Give $12 Billion In Farm Aid To Offset Tariffs

"This is a short-term solution to allow President [Donald] Trump time to work on long-term trade deals to benefit agriculture and the entire USA economy", USDA Secretary Sonny Perdue said.

During a speech to the VFW in Kansas City, Mo., President Trump said farmers "will be the biggest beneficiary" of his tariffs, and he urged them to "just be a little patient".

Republican senators have come out against the Trump administration's latest plan to offer $12 billion worth of emergency relief to farmers being hurt by President Donald Trump's tariffs.

Trump's trade wars have seen the USA hit Canada, the European Union and Mexico with tariffs on aluminum and steel - a move that has seen the Great White North fire back with retaliatory tariffs on $16.6-billion of US steel, aluminium and consumer products.

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.

The Office of the US Trade Representative called the two-day public hearing in Washington as the government seeks to finalise a list of Chinese products totalling US$16 billion that will be subject to a 25 per cent punitive tariff.

Both of Wisconsin's USA senators have written to President Donald Trump, raising concerns about the harm of tariffs on businesses in the state.

President Donald Trump speaks during the Veterans of Foreign Wars of the United States National Convention
Evan Vucci AP

Hours after news outlets reported the administration's pending program, Heitkamp announced she had introduced legislation to extend eligibility for direct financial assistance to farmers hit by retaliatory tariffs imposed on their exports.

"The single best tribute to our workers can be found in the unmatched quality and craftsmanship of the wonderful products they bring from the blueprint to the storefront", Trump added in a statement.

House Speaker Paul Ryan says lawmakers are making the case to President Donald Trump that tariffs are "not the way to go".

In response to steep tariffs imposed by the Trump administration, China has responded with tariffs of its own on American goods. To be successful, the USA will need to muster as many partners as it can in the region lately called the "Indo-Pacific".

Sen. Ben Sasse of Nebraska said Trump's trade war "is cutting the legs out from under farmers and White House's "plan" is to spend $12 billion on gold crutches".

Farm groups generally have stood by Trump during the trade war although anxiety has begun to rise in farm country. "They aren't. And American families and American producers would like governments to get out of the way so they can buy and sell the stuff they want and so that our farmers and ranchers can feed the world", he said.

"The European Union is coming to Washington tomorrow [July 25] to negotiate a deal on Trade", US President Trump wrote in his Twitter account. The newly-introduced tariffs had a particular impact on the EU-produced steel and aluminum, while US President Trump also suggested introducing a 20% duty on all European imported cars. "I applaud the Administration for taking this needed action, and I am confident that President Trump, Secretary Perdue, and Ambassador Branstad are all working diligently to open China's markets to greater trade in Iowa's agricultural products". 'If tariffs punish farmers, the answer is not welfare for farmers - the answer is remove the tariffs'. Negotiation, not tariffs, provide the best path toward solving trade issues, particularly as it relates to our allies in Canada and Mexico. "So we have to reduce prices down to where they were prior to the tariff", Sandison said.

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