The federal government will spend an additional $16 billion to help farmers hurt by the US-China trade war, Agriculture Secretary Sonny Perdue announced Thursday. US farmers have been among the hardest hit by the escalating trade war between the two countries, and both sides are bracing for additional pain resulting from the latest volley of tariffs announced earlier this month.
Perdue said President Donald Trump approved the farmer aid to undermine China’s efforts to retaliate against US tariffs.
“Well, President Trump feels what they’re trying to do is really outlast him and that’s not gonna work. Their economy has hurt a lot more than our agricultural economy and that’s why President Trump has authorized a $16 billion facilitation program,” Perdue said Thursday morning on Fox Business.
Perdue said that the farmer aid will be paid for by an equivalent amount the US expects to pull in through tariffs. But Perdue also claimed that “China’s gonna pay for these” — a false assertion made repeatedly by Trump.
The tariffs will instead be paid for by companies importing goods into the US and are often passed on to US consumers in the form of price hikes, a reality acknowledged by Trump’s own top White House economic adviser Larry Kudlow.
Trump last year already promised farmers a $12 billion aid package to help mitigate the first wave of Chinese retaliatory measures after Trump slapped tariffs on Chinese imports. Trump is expected to address the new farmer aid package in remarks Thursday afternoon at the White House.
Talks between the US and China broke down earlier this month after US officials said China reneged on key parts of an agreement that was close to completion.
Chinese President Xi Jinping has in recent days indicated he is readying his country for a prolonged trade war, calling for his people to prepare for a “new Long March” — a reference to a difficult period in China’s history.
Trump has already warned that he is prepared to impose additional tariffs on the remainder of Chinese exports to the US, a move that would hit consumer goods like toys and electronics that were spared in the first round.
The two leaders are expected to meet face to face on the sidelines of the G20 late next month, and US and Chinese officials have both indicted that the trade war can only be resolved by Trump and Xi.
Tell us all about it. It's a story for the grandchildren to hear.
Ahhhhhh ........ One of the magic mullato,s 1st executive orders was repealing welfare term limits......... For his voters on welfare as a way of life.
Tell us all about it. It's a story for the grandchildren to hear.
Ahhhhhh ........ One of the magic mullato,s 1st executive orders was repealing welfare term limits......... For his voters on welfare as a way of life.
Tell us all about it. It's a story for the grandchildren to hear.
Ahhhhhh ........ One of the magic mullato,s 1st executive orders was repealing welfare term limits......... For his voters on welfare as a way of life.
Mike drop............
Uh....name one thing LATELY!
Bammy phones for welfarites to find jobs.
Not for drug dealing or hooking up with zeppelin fat bytches and making more babies.
I heard 3 people found job,s at McDonald,s on the bama phones.
And this NAPA was right in one thing in this clip she had to say.
I have no problem with Trump doing what he's doing to help the farmer. Those of you who get up every morning and head off to your 8 hour a day job, have very little of an idea as to what it's like to be a farmer and to be at the mercy of so many things over which you have no control.
If it's wrong to subsidize big business it is wrong to subsidize big farming. Most of that subsidizing goes to big farming conglomerates. If we're going to have free trade then lit it be free trade for us as well. It's wrong for China to tax our goods and get off free for their imports. Sure it's going to hurt in the short term but it might dawn on these companies doing business overseas that it might be cheaper to come back home. They will come back home if the federal agencies are reigned in and remove the fees, penalties and overregulation that drove the manufacturing overseas in the first place.
![[Linked Image]](http://a68.tinypic.com/2c0jex.jpg)