The Trump Administration will announce a new $16 billion farm aid package to offset losses from the U.S. trade war with China
Soybeans awaiting transport sit in a truck bed in Delaware, Ohio, on May 14, 2019. Some farmers fear that the protracted trade war with China will permanently alter their sales, leaving them without a foothold in one of their largest markets. By Laura Reiley Laura Reiley Reporter covering the business of food Email Bio Follow May 23 at 11:03 AM The Trump administration will announce a new $16 billion farm aid package to offset losses from the U.S.
In an interview on Fox Business Network, Perdue said: “China is going to pay for this $16 billion through tariffs coming in” and that “the revenue we’re receiving is what the president has intended to fund the farmers who are being hurt by these retaliatory tariffs.” It would be the second bailout for farmers connected to Trump’s tariff showdowns with China, Mexico and other countries. The Trump administration announced $12 billion in emergency measures last July.
Perdue acknowledged Thursday that U.S. farmers have been hit hard by the escalating trade fight with Beijing, and he accused China of targeting the president in advance of his 2020 reelection bid. “Farmers have been hurt disproportionately, and China knows. They’ve gone right at President Trump’s base politically that makes farmers feel pain, and he’s not letting them bear the brunt of that,” Perdue said.Trump was scheduled to meet farm groups at the White House at a 3:15 p.m. event Thursday.
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