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
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.