The Trump administration on Thursday announced a new $16 billion aid package for farmers hurt by the trade war between the U.S. and China.
The assistance will provide direct payments to help farmers make up for losses resulting from retaliatory tariffs Beijing imposed on major U.S. crops. Limited access to China’s market has helped drive down the price of agricultural commodities since the collapse of trade talks earlier this month.
Beijing increased tariffs on $60 billion in U.S. goods in response to Trump’s decision to raise tariffs on $250 billion in Chinese imports to 25 percent.
“President Trump has great affection for America’s farmers and ranchers, and he knows they are bearing the brunt of these trade disputes,” Agriculture Secretary Sonny Perdue said in a statement. “In fact, I’ve never known of a president that has been more concerned or interested in farmer wellbeing and long-term profitability than President Trump.”
Trump is scheduled to meet with farmers and ranchers in the Roosevelt Room of the White House on Thursday afternoon and roll out the new aid program.
The program is similar to a $12 billion aid package Trump approved last year amid heightened trade tensions with China.
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Trump admin announces $16 billion aid package for farmers hurt by trade war with China https://t.co/oXwO4oiv2d pic.twitter.com/Cc8J9ikzEg
— The Hill (@thehill) May 23, 2019
This whole #TrumpSocialism ag bailout is so tiresome. Armies of allegedly free-market think tank folks are answering reporter text messages with "New phone, who dis?"
— Rick Wilson (@TheRickWilson) May 23, 2019
"Comrade Trump Assures Dedicated Patriot Farmers That With Total Dedication To Marxist-Leninist Thought The Five Year Plan Will Result In Record Beet Harvest"
— Rick Wilson (@TheRickWilson) May 23, 2019
— BKLNY (@bklny1) May 23, 2019
My retirement nest egg is dwindling thanks to Trump’s trade war. Where is my bailout?
Read somewhere that the last time farmers were supposed to receive aid, much of the money ended up in the hands of a Brazilian company.
It’s like Obama’s stimulus and his shovel ready jobs. Where did that money go? Our tax dollars in this giveaway likely won’t go to the farmers.
Thanks Consistent. That was the story I was referring to.
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