Thursday, 17 January, 2019


Donald Trump's bailout plan for farmers criticized by some in GOP

Donald Trump's bailout plan for farmers criticized by some in GOP Donald Trump's bailout plan for farmers criticized by some in GOP
Conrad Doyle | 25 July, 2018, 09:30

The tariffs are in part an effort to thwart the progress of China's "Made in China 2025" campaign, which the Trump administration considers a threat to U.S. supremacy in technology and innovation. "Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs", the president tweeted. The retaliation followed new USA tariffs on Chinese goods and tariffs on steel and aluminum aimed at Chinese steel dumping and heavy-handed Chinese import requirements.

Preliminary details of the agricultural aid program that emerged Tuesday indicate the administration will tap the Commodity Credit Corporation, an entity created during the Great Depression to support farmers, to borrow directly from the Treasury for aid to agriculture. Pat Toomey of Pennsylvania, a member of the Senate's banking and finance committees. "He was not going to allow them to bare the brunt of these illegal trade retaliatory efforts of the countries".

But Australia's National Farmer's Federation (NFF) President Tony Maher said it is a blow to drought-stricken farmers in this country.

Sen. Ben Sasse, R-Neb., who hails from an agriculture-heavy state and has criticized Trump's approach called the plan "gold crutches". He indicated the aid plan underscores how much farmers depend on trade. She said her bill would come at "no additional cost" while Trump's plan will only scratch the surface of farmers' losses.

The United States implemented $34 billion in tariffs on Chinese products this summer. The No. 2-ranked House Democrat says he is pleased jobs will be created but stressed the financial impacts US farmers face.

‏"Targeted bailouts are anti-capitalist and won't begin to cover damages from trade war", Mr. Scaramucci tweeted.

"It can be a positive thing to help with the short-term pain", he said.

Using government power to dig economic holes and then fill them up: isn't that what it means to Make America Great Again?

The Trump administration has also imposed tariffs on close allies such as Canada and the European Union.

Thirty-nine Republicans and 49 Democrats backed a non-binding resolution earlier this month calling for Congress to have a role when the president imposes trade barriers in the name of national security.

"Not many people would like it if they took $50,000 away from their business when it is something that they didn't have anything to do with", Schreurs said.

Trump has shown no sign of backing down in the trade dispute.

"Tariffs are the greatest!" the president wrote on Twitter.

Speaking in Kansas City, Trump said his trade policy was producing "tremendous progress". Trump said farmers "will be the biggest beneficiary" and he urged them to "just be a little patient".

Rep. Roger Marshall, who represents Kansas' First Congressional District, called the $12 billion aid package a band-aid.

"I don't think our farmers and ranchers long-term want these programs". At current prices, most farmers lose money on corn, soybeans and pigs.

Sen. Pat Toomey, R-Pa., accused the Agriculture Department of "trying to put a band-aid on a self-inflicted wound". "We're going to do something that has never been done".

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