Economy

Trump planning emergency aid to farmers affected by tariffs

Trump planning emergency aid to farmers affected by tariffs”

After Trump announced plans to impose $50 billion in tariffs on Chinese imports, Beijing retaliated with plans to impose tariffs on a range of agricultural products from the U.S. including soybeans, grains, meats and dairy products.

And American consumers are the ones who get hit with USA -imposed tariffs.

The President has engaged in hardline trading negotiations with China, Canada and European nations, seeking to renegotiate trade agreements he says have undermined the nation's manufacturing base and led to a wave of job losses in recent decades.

A number of White House officials, who have been apprehensive about Trump's use of tariffs, had hoped that other countries would quickly offer concessions before things escalated further.

Farm groups have complained that moves by China and other countries in response to Trump's protectionist trade stance could cost them billions of dollars, spooking Republicans who fear a political and economic blowback to Trump's approach.

"We're stopping the barriers to other countries". But it is a bit novel to hit farmers with one hand and then offer them compensation with the other, and it could even expose the U.S.to sanctions by the World Trade Organization for supplying the same sorts of illegal subsidies of which Trump likes to complain.

The White House showcased a number of products made in each of the 50 states during its second annual "Made in America" event on Monday.

The president is meeting with European Commission President Jean-Claude Juncker on Wednesday.

Canada, Mexico and the European Union also struck back at Trump's leveling of United States steel and aluminum tariffs by hitting USA exports of agriculture products and other heavily exported U.S. goods.



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