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Trump’s financial aid offer to farmers criticized as tax-funded ‘welfare’

25 July 2018

"This administration's tariffs and bailouts aren't going to make America great again, they're just going to make it 1929 again", he said.

Speaking at the Heritage Foundation, Johnson said these trade disputes "could just totally run out of control" and likened them to "throwing a hand grenade of uncertainty" into the economy. "And he said, 'I'm surprised, I've never heard of anybody who didn't want a payment from government'". They're all coming. They don't want to have those tariffs put on them. "There's no ambiguity about this from the producers in my state".

"What farmers in Iowa and throughout rural America need in the long term are markets and opportunity, not government handouts", Grassley said. "Watch. We're opening up markets".

"The best relief for the president's trade war would be ending the trade war". Furthermore, we are more than 18 months removed from USA withdraw from the Trans Pacific Partnership (TPP).

Finally, the CCC will use its Charter Act authority for a Trade Promotion Program administered by the Foreign Agriculture Service (FAS) in conjunction with the private sector to assist in developing new export markets for our farm products.

The publication said that - according to two people familiar with the plans - the aid would be announced by the United States Department of Agriculture and would come through direct assistance programs.

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Jeff Mertz, president of the North Dakota Grain Growers Association, hadn't read up on the program's details but said it appeared to be a sign Trump was looking out for farmers. "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.

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

The tariffs came in response to $34 billion worth of duties the Trump administration placed on Chinese products.

Extra farm aid would be a balm to producers who are seeing prices drop and inventories rise because of disputes with China, Canada and other trade partners who are significant purchasers of USA pork, soybeans and other crops.

The potential auto tariffs, which would deal a blow to Germany's mighty automobile industry, come on top of high levies already slapped by Trump on aluminum and steel imports.

The news lifted shares of farm equipment companies on the prospect that farmers will have more money to spend on tractors and other farm gear.

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Nebraska Senator Ben Sasse, a Republican, criticized the bailout, and the administration's underlying trade policy.

"It's hard for me to defend what the president's done", said Holtz-Eakin, president of the American Action Forum and former director of the Congressional Budget Office.

Trump has floated the idea in the past, but he tweeted Tuesday night that he doubts the Europeans will go for the idea.

In a speech to in Kansas City, Missouri on Tuesday, the president aggressively defended his trade policies.

Juncker could propose some concessions; there is talk that a "plurilateral vehicle deal" could lower tariffs could address Trump's concerns.

But the plan magnified objections among many Republicans that the tariffs amount to taxes on American consumers. "We urge the administration to recognize this self-inflicted damage and to end the trade war immediately as well as to work within the rules-based trading system in partnership with like-minded countries to address serious problems in the global economy". He said that trading with the European Union is unfair and warned the bloc would pay a high price if it does not remove trade barriers.

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Trump’s financial aid offer to farmers criticized as tax-funded ‘welfare’