Daily Trends Now
Daily Trends Now


Trump to Provide $12 Billion in Aid to Farmers. Critics Cry ‘Welfare!’

Trump to Provide $12 Billion in Aid to Farmers. Critics Cry ‘Welfare!’

The aid package is expected to target soybean farmers, dairy farmers, and pork producers, among others. "This announcement is substantial but we can not overstate the dire consequences that farmers and ranchers are facing in relation to lost export markets".

"We're making tremendous progress", he said.

A number of White House officials, who have been apprehensive about Trump's use of tariffs, had hoped that other countries would quickly offer concessions before things escalated further. "The restrictions we face in critical markets such as Mexico and China - our top two export markets by volume previous year - have placed American pig farmers and their families in dire financial straits".

"That's pretty big when you consider that 85 percent of our fruits and vegetables go to the NAFTA countries", Rotz said. "Just be a little patient", he said at a rally Tuesday around the time news of the USDA package broke.

The program will be rolled out at the end of August and then farmers will be able to apply for assistance.

"I'm pleased that certain aspects of his policies have a positive effect but there also have been a lot of negative effects", Hoyer, D-Md., said.

Tariffs are taxes on imports, meant to protect domestic businesses and put foreign competitors at a disadvantage.

The U.S. otherwise could risk losing out to competitors like Brazil, which produces soybeans, or Ukraine and Russian Federation, both large wheat producers.

The Trump administration enacted a 25% tariff on roughly $34 billion worth of Chinese goods earlier this month and has another $16 billion pending ahead of a public hearing.




We continue to urge the administration for the swift resolution of our trade negotiations with China and our NAFTA trading partners, as well as pursuing new trade agreements.

Sen. Charles Grassley (R-IA) said the administration's move was "encouraging for the short term".

The White House has searched for months for a way to provide emergency assistance to farmers without backing down on Trump's trade agenda, and the new program will extend roughly $12 billion through three different mechanisms run by the Department of Agrigulture.

In response to steep tariffs imposed by the Trump administration, China has responded with tariffs of its own on American goods.

Sen. Bob Corker, R-Tenn., said the administration "finally seems to understand that the Trump-Pence tariffs are hurting the American people".

The U.S. Agriculture Department's action highlights the ongoing toll of Trump's trade actions, particularly now that China and others have retaliated against the president's tariffs on imported metals and other goods by imposing levies aimed largely at America's agricultural community.

Trump, however, appears unfazed, . tweeting that "tariffs are the greatest" and "either a country which has treated the United State unfairly on trade negotiates a fair deal or it gets hit with tariffs". "It's as simple as that".

Stephen Kirchner, from the University of Sydney's United States Studies Centre said that the $14 billion soybean industry is one of the hardest hit U.S. agricultural exports, after China slapped a 25 per cent tariff on all oilseeds.

President Trump's tariff threats against China, Canada, Mexico and the European Union prompted immediate threats of retaliation.

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