Trump Tweets: ‘Tariffs Are the Greatest’

Trump Admininstration Announces Emergency Farmer Aid Plan to Mitigate Tariff Effects AP

Trump Admininstration Announces Emergency Farmer Aid Plan to Mitigate Tariff Effects AP

On Tuesday, the Department of Agriculture (USDA) announced it would offer $12 billion in aid to farmers hit by retaliatory tariffs imposed on US goods. "I applaud the Administration for taking this needed action, and I am confident that President Trump, Secretary Perdue, and Ambassador Branstad are all working diligently to open China's markets to greater trade in Iowa's agricultural products".

"The ultimate goal is to secure additional trading partners and trading opportunities for farmers and ranchers so they have a predictable environment going forward", said Joiner, whose group has been raising concerns about the administration's trade approach for months.

To that end, the relief package is meant to serve as only a temporary boost to farmers as the United States and China negotiate over trade issues, officials said.

"President Trump personally promised me that agriculture would be held harmless as he worked on trade, and today's announcement of $12 billion in USDA assistance for disrupted markets confirms his intention to keep his promise to me", said King. But as he deepens the United States involvement in trade fights, it raises questions on whether American consumers will feel the pain of retaliatory tariffs, and whether the president will incur a political price for his trade policies in the midterm elections.

Tariffs are taxes on imports. The president, ahead of trade talks with European Union representatives, argued that the levies would force other countries to come to the table.

"This trade war is cutting the legs out from under farmers, and White House's "plan" is to spend $12 billion on gold crutches", Mr. Sasse said.

Sen. Rand Paul, R-Ky., blasted the plan on Twitter. Cramer has been more defensive of the administration's policies, although he has expressed a distaste for tariffs.

The moves have been unsettling to lawmakers with districts dependent upon manufacturers and farmers affected by the retaliatory tariffs.

The Agriculture Department is announcing a $12 billion "short-term" plan to help USA farmers hurt by retaliatory tariffs.

"There may be some scope for Australian producers to pick up some of that [soybean] demand, on the other hand you've got American exports that were previously going to China that are likely being diverted to other markets as well", he said.

Trump has already put taxes on imported steel and aluminum, saying they pose a threat to USA national security, an argument that enrages staunch United States allies such as the European Union and Canada.

But Mr Kirchner said it is unlikely providing aid short term will help fix any of the long-term problems.

The White House has searched for months for a way to provide emergency assistance to farmers without backing down on Trump's trade agenda, and the new program will extend roughly $12 billion through three different mechanisms run by the Department of Agrigulture.

He's already imposed tariffs on US$34b in Chinese imports in a separate dispute over Beijing's high-tech industrial policies.

Trump is also set to meet Wednesday with European Commission President Jean-Claude Juncker.

Punishing tariffs have been introduced on imported goods from Canada, China, and the EU.

Latest News