The Trump administration is planning to ease fears of a trade war by announcing later Tuesday billions of dollars in aid to farmers hurt by tariffs, according to two sources familiar with the plan.
The administration’s plan will use two commodity support programs in the farm bill, as well as the Agriculture Department’s broad authority to stabilize the agricultural economy during times of turmoil.
The plan has been in the works for months. It seeks to ensure U.S. farmers and ranchers — a key constituency for President Donald Trump and Republicans — don’t bear the brunt of an escalating trade fight with China, the European Union and other major economies as the administration pursues an aggressive course to rebalance America’s trade relationships.
Trump’s moves to slap tariffs on imports from some of America‘s largest trading partners have prompted retaliation against U.S. farm goods like pork, beef, soybeans, sorghum and a range of fruits.
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The Trump administration is planning to ease fears of a trade war by announcing billions of dollars in aid to farmers hurt by tariffs https://t.co/etuIPJuiyb
— POLITICO (@politico) July 24, 2018
Obvious policy criticisms aside, this is not the action of someone "winning the trade war" https://t.co/m8ZlbPmM8G
— Scott Lincicome (@scottlincicome) July 24, 2018
BTW, when you discuss tariffs and someone hits you with, "Well, what's a better way??" — ignore them. That the question is asked just means they don't have an affirmative defense of the tariffs.
— Jay Caruso (@JayCaruso) July 24, 2018
I'm going to keep saying it: Congress should take back it's constitutional authority over trade. The pretense that this crap is being done for "national security" is a farce.
— Jonah Goldberg (@JonahNRO) July 24, 2018
Wrecking free trade markets and hurting American businesses then dumping $12 billion on the agribusinesses you're hurting with idiot trade practices to own the libs.
— Rick Wilson (@TheRickWilson) July 24, 2018
So where is my government bailout? I’m going to need money when the market crashes and my retirement nest egg dries up. I’ll need money to afford all those goods which will double, triple and quadruple in price, thanks to Trump’s ongoing temper tantrum trade wars.
This president has to go before we are all destroyed.
This is straight-up socialism, kids. Let the government pick winners and losers and then pay off the losers with public money even if they were wrong.
If Obama did this…well, you know. https://t.co/YZVn5WoNIV
— Tom Nichols (@RadioFreeTom) July 24, 2018
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