Trump planning emergency aid to farmers affected by tariffs

Trump Tapping $12B to Help Farmers Affected by Tariffs

Trump Tapping $12B to Help Farmers Affected by Tariffs

The administration has slapped tariffs on $34 billion in Chinese goods and China retaliated with duties on soybeans and pork. And American consumers are the ones who get hit with US -imposed tariffs.

Mr Trump has said his tariffs - which he described in a Tweet as "the greatest" - are meant to pressure countries to change their policies toward U.S. exports.

Trump had previously directed Agriculture Secretary Sonny Perdue to explore options to mitigate financial losses USA farmers are suffering as trade tensions between the United States and other countries heat up.

"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.

"Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs".

Sen. Ron Johnson, R-Wis., said Tuesday he has heard from a number of businesses in his state that the primary beneficiaries of Trump's tariffs are overseas competitors that aren't being hit with higher prices on their materials. "Farmers need contracts, not compensation, so they can create stability and plan for the future", said the group's executive director, Brian Kuehl. Trump has threatened to ratchet that up to more than $500 billion, a move that has left financial markets uneasy.

Meeting With Putin "Even Better" Than With NATO, Says Trump
Last week, the department indicted 12 Russian intelligence officers on charges of interfering in the November 2016 vote. Some lawmakers had also called on Trump to reiterate the US position opposing Russia's 2014 annexation of Crimea.

While promoting the worldwide negations, Mr. Trump praised his hard-line trade strategy, saying slapping tariffs if the U.S.is treated unfairly is "simple".

The administration has also engaged in hardline trading negotiations with Canada and European nations, seeking to renegotiate agreements he says have undermined the nation's manufacturing base and led to a wave of job losses in recent decades. The imposition of punishing tariffs on imported goods has been a favoured tactic by Trump, but it has prompted USA trading partners to retaliate, creating risks for the economy.

President Trump's tariff threats against China, Canada, Mexico and the European Union prompted immediate threats of retaliation. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that a year ago totaled $335 billion.

The US plans to provide subsidies to farmers and buy unsold crops, among other measures. Additionally, the product's final assembly or processing must have taken place in the US.

The president on Wednesday will meet with European Commission President Jean-Claude Juncker at the White House as the EU hopes to convince him to hold off from raising tariffs on imported cars and avoid a trans-Atlantic trade war.

The president highlighted that meeting in another tweet.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.