Farmers prefer Trump do trade deals than hand them cash

26 July, 2018, 02:19 | Author: Darnell Patrick
  • President Donald Trump

China, the EU, Canada and Mexico have all filed disputes against the United States in the World Trade Organization, which could authorize the retaliation if it decides the tariffs imposed by Washington were unjustified of violated global trade rules.

Its 150-page report this week lends some support to Trump's claim that Europe has been able to "win" on trade in part because of an undervalued currency.

In a tweet early Wednesday morning, President Trump said, "Every time I see a weak politician asking to stop Trade talks or the use of Tariffs to counter unfair Tariffs, I wonder, what can they be thinking?"

Trump pushed back against critics of his plan on Wednesday, telling them to "be cool" because "the end result will be worth it!"

"I am glad that the administration finally seems to understand that the Trump-Pence tariffs are hurting the American people", said Sen.

Being described as a short-term solution, the US Department of Agriculture (USDA) will authorise up to $12 billion in programmes, which is in line with the estimated USD 11 billion impact of the unjustified retaliatory tariffs on US agricultural goods.

That figure apparently refers to the USA trade deficit in goods alone last year, which hit $810 billion last year, while the total deficit including services was $566 billion.

The second is the Food Purchase and Distribution Program, which will buy surplus fruit, nuts, beef, pork and milk to distribute to US food banks and nutrition programs.

As part of the initiative to be announced on Tuesday, the USDA is expected to draw on the financial resources of a program known as the Commodity Credit Corporation, which helps shore up US farmers by buying their crops.


The government's action points to administration concern about damage to USA farmers from Trump's trade tariffs and the potential for losing House and Senate seats in the Midwest and elsewhere. They said they believed that there are few signs talks among senior officials could be resumed soon.

"This is a short-term solution to allow President Trump time to work on long-term trade deals to benefit agriculture and the entire USA economy", said Sonny Perdue, the secretary of agriculture, in a statement.

Chuck Connor, president and CEO of the National Council of Farmer Cooperatives, said they look forward to working with Perdue and the USDA over the next month on details for the three programs, which will help farmers weather the trade war in the short term.

A group representing soybean farmers also opposes the administration's plan, and called instead for the elimination of tariffs. "I don't think threats bring us closer to a solution", he told German public TV station ARD on Tuesday.

Sen. Pat Toomey, R-Pa., said the Agriculture Department was "trying to put a Band-aid on a self-inflicted wound".

"It's a Band-Aid on a broken leg", said Michael Petefish, a 33-year-old Trump supporter and fifth generation soybean farmer in southern Minnesota. Bob Corker (R-Tenn.), calling the tariffs "a massive tax increase on American consumers and businesses" and the emergency aid "welfare to farmers".

For example, Arkansas Governor Asa Hutchinson, a member of Trump's Republican Party, plans to dispatch his economic development director, Mike Preston, to China before the end of this year.

"There is a tendency for a little bit of Trump piling on", he said.

Recommended:



Popular

Spieth expecting the unexpected as second Open win beckons
Kisner, who led after round one and was tied for the lead after round two, stayed on top thanks to a 68, with three birdies and no bogeys.

What happened every other time Putin met with United States presidents
Despite his claim, Trump heaped more praise on the autocratic nation, while at the same time taking aim at one of our allies. With that, Trump declared the contretemps over, insisting, "I think that probably clarifies things pretty good by itself".

17 dead after duck boat capsizes in Missouri
He said dive teams were wrapping up for the evening and would resume in the morning. "I believe it was caused by weather, yes". The CoxHealth Medical Center said it was treating six patients from the incident, three of whom were under the age of 18.

Trump slams European Union over $5-billion fine on Google
Google risks losing that traction if it is forced to surrender its real estate on millions of Android phones . FBN's Kristina Partsinevelos on the European Union's record fine against Google over antitrust violations.

European Union hits Google with $5bn fine for breaking competition rules
The Commission has been investigating Google's use of Android since 2015 after European and American rivals complained. Vestager also accused Google of making illegal payments to manufacturers to ensure that its apps are pre-loaded.

Netflix Shares Crash After New Subscriptions Fall Short of Expectations
Netflix added 5.1 million streaming users in the latest quarter, below the 6.2 million forecast the company gave in April. Total streaming revenue for Q2 18 is US$3,814 million, up from US$2,671 million during the same period a year ago .

Trump sides with Russian Federation against Federal Bureau of Investigation at Helsinki summit
This aspect of his personality was on display again today in his joint press conference with Russian leader Vladimir Putin . Trump again denied that there had been any collusion between his campaign and Russian Federation .

Taylor Swift 'Third Wheels' as Fan Proposes in Front of Her!
She can be seen holding a picture of herself as a little girl standing in front of the same shed with the caption "Take me home ". Fortunately, she made it through the show like the pro she is and her Swifties loved her even more for it!

Thai soccer boys weren't able to watch World Cup live
One Thai Navy SEAL died trying to save the group. "Everyone has worked well together to bring the children out". Medics said the boys were only considered mentally strong enough on Saturday to hear the news of Mr Kunan.

Tesla unveils Shanghai factory plans amid US-China trade row
The other is which manufacturer Musk will pick to supply the cells that Tesla turns into battery packs. Tesla said they are looking forward to working and building more cars for their Chinese customers.