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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