Republicans Fume at President Trump's $12 Billion Plan to Aid Farmers
- Author: Eleanor Harrison Jul 25, 2018,
Jul 25, 2018, 4:56
"This trade war is cutting the legs out from under farmers and the White House's "plan" is to spend $12 billion on gold crutches", said Senator Ben Sasse, a Nebraska Republican who frequently criticizes the president, a fellow Republican.
Senators said the aid package could help short-term, but they're anxious about losing long-term access to export markets. Retaliatory tariffs against the United States have included additional export costs for soybeans, pork, and beef, among other goods and services. Jerry Moran, R-Kan.
"This is a short-term solution to allow President Trump time to work on long-term trade deals to benefit agriculture and the entire US economy", Secretary Perdue said.
Sonny Perdue, secretary of the U.S. Department of Agriculture, said the $12 billion relief package will be financed through the USDA's Commodity Credit Corporation, a mechanism that will not require congressional approval.
The CCC will also use its Charter Act authority for a Trade Promotion Program administered by the Foreign Agriculture Service (FAS) in conjunction with the private sector to assist in developing new export markets for farm products.
"The farmers will be the biggest beneficiary; watch, we are opening up markets, you watch what is going to happen, just be a little patient", Trump said during a speech Tuesday in Kansas City, Missouri. That's according to two people who have been briefed on the plan who spoke on condition of anonymity ahead of a formal announcement.
"They're all coming. They don't want to have those tariffs put on them", Trump told the Veterans of Foreign Wars national convention.
The imposition of punishing tariffs on imported goods has been a favored tactic by Trump, but it has prompted US partners to retaliate, creating risks for the economy.
Responding in kind, Beijing slapped tariffs worth $34 billion on 545 American goods. House Speaker Paul Ryan of Wisconsin said lawmakers are making the case to Trump that tariffs are "not the way to go".
Tariffs are taxes on imports.
Trump's event with a smorgasbord of American goods came at the start of a week in which trade discussions are expected to dominate, including talks with European officials and a trip to IL in which the President is planning to visit a community helped along by his steel tariffs.
Grassley said Tuesday that commodity supports aren't a long-term solution and will be costly to taxpayers. He added that, "Tariffs are taxes". "They send them in and take advantage of us", Trump said.
The Trump administration touted the importance of American-made and American-operated products, which was defined as having contained no, or a negligible amount of, "foreign content", according to a White House pool report.
Trump has threatened to place tariffs on up to $500 billion in products imported from China, a move that would dramatically ratchet up the stakes in the trade dispute involving the globe's biggest economies.
Trump would agree to interview with Mueller if no questions on obstruction Haley: Russia "never will be" friend of US Massachusetts passes NASTY Women Act repealing 173-year-old abortion ban MORE suggested on Tuesday that the USA and European Union "drop all Tariffs, Barriers and Subsidies" after his administration imposed tariffs on EU imports.
Before departing for Kansas City, Trump tweeted that any USA trade partner needs to either negotiate a 'fair deal, or it gets hit with Tariffs.