Trump Seeks New $15 Billion Subsidy To Protect Farmers From His Own Trade War
President
Donald Trump is seeking an additional $15 billion in U.S. subsidies in an effort to protect
farmers from the devastating impact of his trade war with China. That’s on top of
$12 billion already earmarked for the farmers to help them weather the fallout.
That would be an additional bill for U.S. taxpayers already shouldering the cost of increased tariffs in the form of higher costs for products and parts from China.
Trump revealed the subsidy
figure in a tweet Friday. He suggested the government use the funds to buy agricultural products to ship to other nations for humanitarian aid, though setting up such a system
would be extremely complicated. In his most recent
budget proposal, Trump proposed eliminating three food aid programs,
Politico noted.
The president appeared to dismiss the impact of the cost as he
falsely claimed — again — that “massive” tariff payments are being paid by China “
directly” to the U.S. Treasury, which would presumably be used to cover the cost of the subsidy. There is “absolutely no need to rush” to negotiate a deal with China, he tweeted.
More:
https://news.yahoo.com/trump-trade-w...024200505.html