U.S. announces billions to help farmers hurt by Trump tariffs

White House Admits Tariffs Are Hurting Farmers As It Plans Relief Program

Trump administration plans to help farmers hurt by global trade tensions

The government announced a $12 billion plan Tuesday to assist farmers who have been hurt by President Donald Trump's trade disputes with China and other trading partners.

Agriculture Secretary Sonny Perdue said on Tuesday that the emergency relief aid is a firm statement that other nations can not bully US agricultural producers to force the administration to back down from its hardline stance.

Retaliatory tariffs on goods such soybeans, pork, beef and bourbon have hit farmers' and others' bottom lines in Wisconsin, North Carolina, Ohio, Iowa and Kentucky.

President Donald Trump tweeted Tuesday morning that "tariffs are the greatest" as the United States prepares to impose a variety of tariffs on numerous countries. But the proposal was quickly greeted Tuesday with continued criticism from Republicans on Capitol Hill who argued Trump should nix his tariff strategy rather than roll out a financial backstop.

The CCC has broad authority to make loans and direct payments to United States growers when prices for corn, soybeans, wheat and other agricultural goods are low. After $34 billion in tariffs against China went into effect earlier this month, China responded with its own equivalent tariffs soon after, targeting US agricultural products including soy, corn, wheat, pork, poultry and more. "IL corn farmers need the administration to complete the modernization of NAFTA, resolve other ongoing trade disputes, and provide improved domestic and worldwide marketplace access for ethanol through the RVP waiver promised by President Trump and by updating the lifecycle analysis of corn-based ethanol".

Shortly after her comments, Heitkamp announced a new bill aimed at helping farmers and ranchers recover their losses as a result of the administration's trade policies. The Trump administration will reportedly give $12 billion in aid to farmers hurt by the tariffs.

Farm state lawmakers and other groups quickly criticized what they called a bailout. Sen.

The president's supporters say the short term blip will lead to long term gain, but now the administration feels obligated to prop up chafing agriculture markets with $12 billion in new subsidies, which amounts to nothing more than farm welfare. "If tariffs punish farmers, the answer is not welfare for farmers - the answer is remove the tariffs".

G20 ministers call for greater dialogue on trade tensions
G20 ministers call for greater dialogue on trade tensions

House Speaker Paul Ryan said he understood Trump's plan and called his goal a "good one" but ultimately said House Republicans do not agree with the practice.

At a speech Tuesday, he asked farmers to not believe reports that a trade war is a bad thing.

Sasse, a Republican, represents thousands of farmers in the Cornhusker State, and said that his constituents "don't want to be paid to lose" but "want to win by feeding the world".

Sen. Ben Sasse, R-Neb., agreed, calling the aid "trade-war bailouts".

Farm groups generally have stood by Trump during the trade war although anxiety has begun to rise in farm country.

Such duties, Braillie said, would harm more than 4,000 businesses and jeopardise the tens of billions of dollars the industry contributes to the USA economy.

Trump has threatened to place more punitive taxes on up to $500 billion in products imported from China, a move that would dramatically ratchet up the stakes in the trade dispute involving the globe's two biggest economies.

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The most sensational statement that Trump made was that "our relationship has never been worse than it is now". Saunders said people at the organization can not recall details of Torshin's presentation.

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