Trump to offer USA farmers billions to ease trade pain

Virginia Carson
July 24, 2018

China said it would retaliate, leaving even more US farm products at risk.

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.

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 USA including soybeans, grains, meats and dairy products.

President Trump indicated that countries are finally coming to the negotiating table over trade tariffs.

The aid package is expected to target soybean farmers, dairy farmers, and pork producers, among others.

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The administration's plan will rely on commodity support programs in the farm bill as well as the Agriculture Department's authority to stabilize farmers during times of turmoil, according to a report in Politico.

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

In addition to the direct impact of tariffs on American farm products, farmers have also been hurt by US tariffs on foreign steel imports.

"I'm only in favor of the tariffs to fix the problem that's been going on for decades", Bruce Rastetter said during an interview with FOX Business' Stuart Varney on Tuesday. It involves direct payments to farmers, the purchase of excess food and trade promotion programs to help create new export markets.

In a follow up tweet he reaffirmed the administration's tough stance on trade, explaining "either a country negotiates a fair deal - or gets hit with tariffs".

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Trump has faced opposition from members of his own party in regards to the tariffs.

"We're stopping the barriers to other countries".

But the plan magnified objections among many Republicans that the tariffs amount to taxes on American consumers.

Brennan replied to an earlier message from Trump on Twitter calling tariffs "the greatest".

"This trade war is cutting the legs out from under farmers and White House's "plan" is to spend $12 billion on gold crutches", Sasse said in a statement Tuesday.

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