Trump Seeks New $15 Billion Subsidy to Protect Farmers from His Own Trade War
Will China trade war fallout become the quagmire that defines Trump's presidency?
Editor’s note: Trump is discovering that economic interventionism at home is every bit of a slippery slope to a quagmire that military interventionism is abroad. Every instance of interference causes fallout which then demands even more intervention to set it “right”. Meanwhile economic freedom which is the true cause of growth is set back at each step.
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 noted.
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.
In fact, the tariffs are paid by U.S. importers, who pass on the extra costs to the American consumer in the form of higher prices for products, a fact White House economic adviser Larry Kudlow admitted Sunday. Economists have estimated that the trade war is costing the U.S. more than $3 billion a month.
Talks with China continue in a very congenial manner – there is absolutely no need to rush – as Tariffs are NOW being paid to the United States by China of 25% on 250 Billion Dollars worth of goods & products. These massive payments go directly to the Treasury of the U.S….
— Donald J. Trump (@realDonaldTrump) May 10, 2019
The administration last year earmarked $12 billion in aid to farmers, almost all of it in direct payments. Sen. Chuck Grassley (R-Iowa) and Sen. Jon Tester (D-Mont.) applied for funds for their farms.
The rural vote helped put Trump over the top in the 2016 election, yet his trade war has hit farmers particularly hard. It has contributed to a record number of farm bankruptcies as U.S. farm exports plunge.
Other industries affected by the tariffs are not receiving subsidies.
Trump has called farmers “great patriots” who are willing to sacrifice because they “know they’re doing it for the country.”
Trump: "Farmers are great patriots. These are great patriots. They understand that they're doing this for the country." pic.twitter.com/fAALBODo0Q
— Josh Marshall (@joshtpm) April 9, 2018
Source: Huffington Post
Farmers are Suckers unless they get a huge bail out – since when does a farmer need the President or any other Agency, to tell them when and where to sell their crops? Sell your crops anywhere, anytime for whatever it takes to keep in business. You think Monsanto/Bayer, Cargill, Dupont rely on Trump or anyone else , in order to sell their shit ? There must be a scam in the Ag business, for some farmer to be sitting on crops that should have been sold – already . One article shows starving countries , the next shows farmers who can’t sell their crops – BS.
They can’t sell to China as Chinese tariffs make US crops too expensive. China buys elsewhere as US crops rot at home.
In the old days the farmers got together and formed – CO-OPS and they would buy and sell as a group – didn’t need no US/NWO government interfering with export and import BS. The US/NWO has destroyed the American independent farmers, manufacturing and Industrial businesses in order to fill their pockets, with Globalist Corporations like Monsanto, Cargill, John Deere, Dupont, and now even Universities are in on the manipulations.
Cognitive Dissonance?
Or just ole fashion political prostitution?
what are you going to send them?
soybeans? under water
corn? under water
wheat? under water
pigs? no soybeans
cows? no corn
cattle? no grass
BS? tons of it.
America is in plentiful supply of BS, it’s funny that the economic pain is coming back to bite America in the butt.
you’ve probably already seen this one:
Crop Catastrophe In The Midwest – Latest USDA Crop Progress Report Indicates That A Nightmare Scenario Is Upon Us
http://theeconomiccollapseblog.com/archives/crop-catastrophe-in-the-midwest-latest-usda-crop-progress-report-indicates-that-a-nightmare-scenario-is-upon-us
would Trump jumping on his own sword, held by Pompeo, be like an own-goal in football?
we can hope