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

25 July, 2018, 22:27 | Author: Kevin Carter
  • Trump administration announces $12 billion in emergency aid to farmers

The tweet follows Trump's message at a VFW event in Missouri on Tuesday, in which the President implored farmers - many of whom reside in key swing states the helped power him to victory in 2016 - to weather the pain from the trade fight.

Retaliatory tariffs on goods such soybeans, pork, beef and bourbon have hit farmers' and others' bottom lines in Wisconsin, North Carolina, Ohio, Iowa and Kentucky. A senior European official said Juncker will meet with Trump on Wednesday equipped with offers to de-escalate the trade war, while convincing him to hold off on auto tariffs.

This will help producers of soy, sorghum, corn, wheat, pork, dairy, fruit, rice and nuts, all products hit by tariffs imposed in response to USA actions. Congressional approval is not needed to proceed with this program. Perdue said more details about the aid will be announced by the beginning of September, which was the timeline he laid out last week.

Watne prefers better crop subsidies and other revenue loss protections in the massive federal farm bill that is being hammered out in a House-Senate conference committee, to guard against retaliatory tariffs on USA agriculture exports. "They've gotten free trade agreements recently done with Canada and Mexico, and we're sitting on the sidelines.We need those agreements in place".

The move meant to cushion the blow for a politically important constituency was met with broad criticism by many farmers and farm-belt lawmakers, including Republicans. Still, an extended trade dispute that lingers into the fall harvest - and elections - holds the potential to shake that support. Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News.

"China is targeting our farmers, who they know I love & respect, as a way of getting me to continue allowing them to take advantage of the U.S. They are being vicious in what will be their failed attempt".

Farm goods covered would range from major commodities such as soybeans, wheat and milk to legumes and nuts, depending on the program.

More news: Talks continue in Brussels in effort to avoid ‘no-deal’ Brexit

"I think it's more on the American farmer".

Sonny Perdue, the USA agriculture secretary, said: "President Trump has promised since day one that he has the back of every American farmer and rancher". The assistance is "a firm statement that other nations can not bully our agriculture producers to force the United States to cave in". "If we cede once, we will often have to deal with such behavior in the future", Heiko Maas wrote on Twitter.

Trump has in recent months engaged in a multi-front trade confrontation, imposing steep tariffs on steel, aluminum and tens of billions of dollars in Chinese goods, which sparked swift retaliation against key U.S. farm products like soy and pork.

"I'm ready to go to $500 [billion]", Trump said. Deere shares rose 4.6 percent, more than any full-day gain since May 18. "What we need is certainty when it comes to our trade relationships".

Texas alone has billions of dollars in exports covered by payback tariffs, with a large chunk of that retaliation coming on critical crops like cotton, grain sorghum and soybeans. All three are embroiled in conflicts with the U.S. However, our concerns still lie in a lengthy trade war that will cause long-term, irreparable harm to US agriculture. Farmer organizations including the American Soybean Association have called the impacts of tariffs on agriculture "devastating".

Additionally, American goods shipped overseas are being slowed from reaching market by unusually strict or cumbersome entry procedures, which can affect the quality and marketability of perishable crops, it said. "But we can not overstate the dire consequences that farmers and ranchers are facing in relation to lost export markets", he added, "and we will continue to push for a swift and sure end to the trade war".

While emergency government commodity buys are rare, they're not unheard of. President Barack Obama allocated $170 million to help farmers struck by drought in 2012.

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