Trump administration announces $12 billion 'bailout' for farmers

by Ben Pena July 26, 2018, 2:19
Trump administration announces $12 billion 'bailout' for farmers

Reaction from trade partners to President Trump's tariff policies have pushed soybean prices about 18 percent lower and corn and pork prices down 15 percent from the time he began discussing tariffs this spring. "The programs we are announcing today help ensure our nation's agriculture continues to feed the world and innovate to meet the demand".

Agriculture Secretary Sonny Perdue says the plan is meant for short-term relief while President Donald Trump and other officials work on trade deals.

Speaking from the Centre for Strategic & International Studies in Washington moments after a joint press conference with Donald Trump, the European Union leader warned Brussels will be ready to defend itself from future threats coming from the US.

The "Trump 2020" red, white and blue flags - emblazoned with his next campaign motto "Keep America Great!" - are ready to be shipped from the Jiahao Flag Co.in Anhui province and may be slammed by the president's own measures, according to Reuters.

"We are confronting unfair trade deals and we are doing it like nobody has ever done, because our workers have been cheated and our companies have been cheated", Trump told a veterans group in Kansas. It's as simple as that - and everybody's talking! Remember, we are the "piggy bank" that's being robbed.

Perdue faced questions about trade from Northwest farmers and ranchers during a tour of the region July 2-4, and he said the USDA was looking into "some sort of compensatory mitigation strategy".

Trade damage from such retaliation has impacted a host of U.S. commodities, including field crops like soybeans and sorghum, livestock products like milk and pork, and many fruits, nuts and other specialty crops, it said.

Its 150-page report this week lends some support to Trump's claim that Europe has been able to "win" on trade in part because of an undervalued currency.

Although some farmers - and some Republican lawmakers - insist they'd rather have "trade than aid", Perdue argued the tariffs would create a more fair global trading system, which would eventually benefit farmers in the long term.

Trump favors improving US, UK ties with Russian Federation and China
Trump said he respects Europe's leaders but adds that they've taken advantage of the USA on trade and defense spending. His grandfather Frederick Trump was born in Germany. "I don't think you'll have any, 'Gee, I did it".

"We will not go against the spirit of this agreement unless either party terminates the negotiation", he said. The program is expected to start taking effect around Labor Day in the United States on September 3.

Aid will come in three ways: Direct payments to farmers who have been hurt by escalating trade tensions. "Europe's ahead of us", Schwager said.

Meanwhile, farmers inspecting growing crops in North Dakota said they preferred not relying on the aid, but were optimistic that Trump would find a long-term solution.

The administration announced a $12 billion bailout plan Tuesday for farmers hurt by "unjustified retaliatory tariffs" in President Trump's trade wars, while some GOP lawmakers and farmers recoiled at the government aid and urged the president to seek a negotiated peace with US trading partners.

"No one has an interest in having punitive tariffs, because everyone loses in the end", he said. "I will never stop fighting for Iowa families affected by this trade war." . And he's doing it despite his advisors honking their horns and waving their arms as Trump gets closer toward driving the USA economy over a cliff.

Some farmers were more skeptical of the administration's actions, believing the midterm elections in November had more to do with the announcement than concern for farmers.

"The political reality is USDA is going to simply cut checks and send them to farmers", said Josh Sewell, senior policy analyst with Taxpayers for Common Sense, a nonpartisan federal budget watchdog.

Corker said farmers want 'trade, not aid'.

Be Civil - It's OK to have a difference in opinion but there's no need to be a jerk. We're using that to temper this.

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