Trump plans $121 billion emergency aid to farmers hit by retaliatory tariffs

The government will also buy surplus products such as fruits, nuts, rice, dairy, pork, chicken and beef and distribute them to food banks.

During a speech to the Veterans of Foreign Wars in Kansas City, Mo., President Trump said his tariffs are working and bringing nations to the bargaining table. "Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs".

Nick VanWychen, a Kaukauna farmer, says soybeans are one of the crops most affected by trade disputes.

"It doesn't make me feel any better", the operative said.

Prices for soybeans have already fallen by more than 15% since April, when China - a major buyer of the crop - announced its plans to retaliate.

So when President Trump's tariff announcement sent soybean prices plummeting to their lowest level in a decade, farmers quickly shifted their attention from the weather to the markets.

"As such, we urge the administration to take immediate action to stop the trade war and get back to opening new markets".


"What the European Union is doing to us is incredible, how bad". The US imported roughly $46bn of the two metals in 2017. After Beijing imposed tariffs on $34 billion worth of American goods, Trump threatened to impose tariffs on $500 billion worth of Chinese products. Both the USA and the European Union drop all Tariffs, Barriers and Subsidies! The three countries retaliate with tariffs on a total of nearly $20bn in U.S. products.

He's threatening to use the national security justification again to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that past year totaled $335 billion.

Tariffs on US goods have impacted all sectors of the economy, according to the USDA's trade counsel to the secretary, Jason Hafemeister.

"If not, the EU Commission is preparing a rather long list of many of American goods". The USDA said in a press release the $12 billion is in line to offset the estimated $11 billion impact of the retaliatory tariffs.

Much of the $12bn in emergency relief, which does not need congressional approval, will go towards direct payments to farmers of commodities such as soybeans, sorghum, and wheat, officials said. "Hope they do it, we are ready - but they won't!"

Some of the money will also go to boosting export efforts.

Farmers and producers should be able to begin signing up for the aid beginning in September.


The programme, which will be deployed using powers created during the Great Depression, is not meant to extend beyond this year, officials said.

Sonny Perdue, the USA agriculture secretary, said: "President Trump has promised since day one that he has the back of every American farmer and rancher".

In fields across the country and even in some Republicans offices in Washington, the reaction was similar: It's not enough.

But industry groups that represent agriculture, as well as politicians from agricultural states, criticised the relief as a short-term solution to a self-inflicted problem.

She added that she did not think the US proposal to drop tariffs, barriers and subsidies was serious, pointing out that the USA has laws, such as the Buy American Act, protecting its industries and agricultural policies supporting its farmers. "But right now, we're the ones that are taking the hit".

He added, "This administration's tariffs and bailouts aren't going to make America great again, they're just going to make it 1929 again". "The answer is remove the tariffs".

White House economic adviser Larry Kudlow said last week that Mr Juncker could be coming to Washington with a "very important free trade offer", but the commission dismissed that idea.


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