Australian farmers say Trump's $12 billion aid package will hurt them

Tariffs Are Great: Trump Defends Trade Strategy Ahead Of EU Chief Visit

Tariffs Are Great: Trump Defends Trade Strategy Ahead Of EU Chief Visit

Farmers have been hit especially hard after our trade partners issued retaliatory tariffs on billions of dollars worth of goods following Trump's 25% and 10% tariffs on steel and aluminum, respectively.

Agriculture Secretary Sonny Perdue said Tuesday the emergency aid package will use existing funding to mitigate the estimated $11 billion impact of "illegal tariffs" other countries have imposed on U.S. agriculture exports.

Earlier Tuesday, the president praised tariffs in a tweet. "The move is an indication that Mr. Trump - ignoring the concerns of farmers, their representatives in Congress, and even some of his own aides about the adverse consequences of a trade war he says he relishes - plans to plow forward in escalating his tariff tit-for-tat around the world", The New York Times's Julie Hirschfeld Davis and Ana Swanson say.

The CCC has broad authority to make loans and direct payments to USA growers when prices for corn, soybeans, wheat and other agricultural goods are low.

Several countries and regions, including China, the European Union, Canada and Mexico, . have imposed heavier duties on US imports in retaliation to President Trump's tariff policies.

Sen. John Hoeven, R-N.D., said he's not a "fan" of tariffs but advocated for improved trade deals. She said her bill would come at "no additional cost" while Trump's plan will only scratch the surface of farmers' losses.

Farm state lawmakers and other groups quickly criticized what they called a bailout. Sen.

"He's gone down a path of tariffs against China, which it's not obvious [if it has] an endgame that will be to the betterment of the world trading system, and he's threatened these vehicle tariffs and that's not a good idea either", he said.

"If tariffs punish farmers, the answer is not welfare for farmers - the answer is remove the tariffs", Paul tweeted.




"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 in a statement.

The US has unveiled a $12bn (£9.1bn) plan aimed at helping US farmers hurt by the intensifying trade war.

On Tuesday, the Trump administration announced it would provide money to farmers impacted by tariffs due to the ongoing trade war.

American Farm Bureau Federation President Zippy Duvall welcomed the aid, saying it "should help many of our farmers and ranchers weather the rough road ahead and assist in their dealings with their financial institutions".

The Trump administration on Tuesday said it will use a Great Depression-era programme to pay up to $12 billion (9.13 billion pounds) to help US farmers weather a growing trade war with China, the European Union and others that the president began. "Great to see providing aid to farmers impacted by retaliatory tariffs", he wrote on Twitter. "So the tariff policies that have been put in place by the administration are now causing them to invoke a welfare policy for our farmers which I'm sure is not what they wish".

Farm groups generally have stood by Trump during the trade war although anxiety has begun to rise in farm country.

In a statement, Cramer welcomed the assistance package but offered a caveat: "At the end of the day we want trade not aid".

Juncker will suggest two paths, one of which is a deal among major auto exporting nations including the U.S., Europe, Japan and Canada to reduce tariffs on cars.

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