Trump Administrations Announces $12 Billion In “Temporary Relief” For Farmers Impacted By Higher Tariffs On U.S. Products Resulting From Trump’s Trade War

 In Economy, International Relations   Last Updated: July 28, 2018

The federal government will dole out up to $12 billion in “temporary relief” to struggling farmers who have been hurt by President Donald Trump’s tariffs and trade war, the U.S. Department of Agriculture announced Tuesday [July 24, 2018].”

The aid is designed to help farmers facing tariffs in China, Mexico and other countries that imposed the levies on U.S. products in response to Trump’s new tariffs on imported steel and aluminum.”  U.S. farmers are selling less products abroad because of these tariffs on U.S. goods.

USDA officials say the aid will be available in three forms; direct payment to producers of soybeans, sorghum, wheat, cotton, dairy and hogs; government purchases of fruit, nuts, legumes, and some meats for distribution to food banks; and development of new export markets.  Officials [also] say they will be using a Depression-era program, the Commodity Credit Corporation, to secure money from the U.S. Treasury and will not need to ask Congress for the funds.

 

 

Adam Edleman and Peter Alexander. "Administration announces $12 billion in aid to farmers hurt by Trump's trade war." NBC News, 24 July 2018. Web. 28 July 2018.
Damian Paletta and Caitlin Dewey. "White House readies plan for $12 billion in emergency aid to farmers caught in Trump’s escalating trade war." Washington Post, 25 July 2018. Web. 28 July 2018.
Brian Naylor. "Trump Administration Plans $12 Billion In Farm Aid To Offset Tariffs." NPR, 24 July 2018. Web. 28 July 2018.
Recommended Posts

Start typing and press Enter to search