Trump to Give Farmers Aid, but Farmers Aren't Thrilled
25 July, 2018, 22:29 | Author: Corey Lynch
Mr. Trump has suggested a zero-tariff deal to level the trade playing field and create what he calls a "fair and reciprocal" trading relationship.
On Tuesday night, Trump issued a tweet proposing that both the US and the European Union drop all three as European Commission President Jean-Claude Juncker prepares to visit Washington for trade talks on Wednesday. It will impose new tariffs on a range of USA products, including agricultural and high-tech products and machinery.
"IL corn farmers need the administration to complete the modernization of NAFTA, resolve other ongoing trade disputes, and provide improved domestic and global marketplace access for ethanol through the RVP waiver promised by President Trump and by updating the lifecycle analysis of corn-based ethanol".
"This is becoming more and more like a Soviet type of economy here: Commissars deciding who's going to be granted waivers, commissars in the administration figuring out how they're going to sprinkle around benefits", said Sen.
On Wednesday Trump accused China of targeting American farmers in a vicious way and using them as leverage to get concessions from him on trade.
"Our emphasis continues to be on trade and restoring markets, and we will continue to push for a swift and sure end to the trade war and the tariffs impacting American agriculture".
The U.S. has also imposed tariffs on $34 billion in Chinese products and threatened tariffs on $500 billion more in goods.
The Trump administration says it will provide $12 billion in emergency relief to ease the pain of American farmers slammed by President Donald Trump's escalating trade disputes with China and other countries.
Agriculture officials say the plan will not require congressional approval.
Under the three USDA aid programs, farmers will either receive direct payments or sell their excess production to the government, Perdue said.
"And we as farmers are playing the dupes again in this whole process", said Wisconsin farmer Michael Slattery who grows soybeans, corn, wheat and alfalfa with his wife on 300 acres in Maribel, Wisconsin.
Stocks of farm equipment makers including Deere & Co. gained on reports of the planned announcement of aid to farmers.
This comes as President Donald Trump appears at the Veterans of Foreign Wars national convention in Kansas City in the heart of the nation's farm country.
But at home, Trump is facing increasing criticism as consumers, farmers and businesses take a hit from the retaliation to the raft of USA tariffs on steel, aluminum, and tens of billions of dollars in products from China that he has imposed in recent weeks.
Exports now account for about 20% of farm income in the USA, but farmers worry the escalating tariffs will reduce demand for their goods.
US White House spokesperson Hogan Gidley announced on Tuesday that President Trump meant to bring up at the meeting with the chief of the European Commission issues regarding bilateral trade and the fight against terrorism.
The Republican leader told reporters Tuesday, "I've made it pretty clear I don't think tariffs are the right answer".
"When you have people snipping at your heels during a negotiation, it will only take longer to make a deal, and the deal will never be as good as it could have been with unity", he said.
Slattery said he didn't support Trump in the last presidential election.
Many lawmakers would prefer Trump lift the tariffs, rather than provide bailouts.
Highlighting the complexity of Wednesday's talks, hours before Trump called for the elimination of all tariffs, he had tweeted that "tariffs are the greatest".
"The aim of this visit is to cool down the situation and prevent an escalation of the trade conflict", European Commission for Trade Cecilia Malmstrom, who will accompany Mr. Juncker at a bilateral meeting at the White House, told Swedish newspaper Dagens Nyheter. "This administration's tariffs and bailouts aren't going to make America great again". Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs.
The plan, however, has already magnified objections among some Republicans that the tariffs amount to taxes on American consumers. This caused the price of sorghum to drop significantly, and forced ships full of sorghum heading to China to change course.
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