Trump announces $16 billion trade aid package for farmers - Entrepreneur Generations

President Trump announced yesterday a $16 billion aid package aimed at helping farmers hurt by the trade war. "In a conference call with reporters ahead of the event, Agriculture Secretary Sonny Perdue said $14.5 billion of the $16 billion would be paid out directly to producers, who have been hit hard by Trump’s tariff showdowns with China, Mexico and other countries," Laura Reiley, Colby Itkowitz and Annie Gowen report for The Washington Post.

In addition to the $14.5 billion paid to producers of row crops, fruits, vegetables, nuts, pork and dairy, Perdue said the government will spend $1.4 billion to buy and donate crops to food banks and schools, and will award $100 million in grants to develop new markets overseas, Chuck Abbott reports for Successful Farming.

Trump said the money will come from "the billions of dollars the Treasury takes in" from China, but the Post notes that "China does not pay tariffs imposed by the United States on Chinese imports. Importers pay those tariffs, and some of them pass on the cost to U.S. consumers."



from The Rural Blog http://bit.ly/2wr9ScZ Trump announces $16 billion trade aid package for farmers - Entrepreneur Generations

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