Trump says U.S. farmers to get $15 billion in aid amid China trade war




 

WASHINGTON (Reuters) - President Donald Trump said on Monday that his administration was planning to provide about $15 billion (£11.57 billion) in aid to help U.S. farmers whose products may be targeted with tariffs by China in a deepening trade war.

"We're going to take the highest year, the biggest purchase that China has ever made with our farmers, which is about $15 billion, and do something reciprocal to our farmers so our farmers can do well," Trump told reporters at the White House.

He did not provide more details on what kind of an aid package it would be.

American farmers, a key constituency of Trump, have been among the hardest hit in the trade war. Soybeans are the most valuable U.S. farm export, and shipments to China dropped to a 16-year low in 2018. Sales of U.S. soybeans elsewhere failed to make up for the loss. U.S. soybean futures fell to their lowest in a decade on Monday.

U.S. Agriculture Secretary Sonny Perdue said on Friday that Trump had asked him to create a plan to help American farmers cope with the heavy impact of the U.S.-China trade war on agriculture.

A new aid programme would be the second round of assistance for farmers, after the Department of Agriculture's $12 billion plan last year to compensate for lower prices for farm goods and lost sales stemming from trade disputes with China and other nations.

"Out of the billions of dollars that we're taking (in on tariffs on Chinese imports), a small portion of that will be going to our farmers, because China will be retaliating, probably to a certain extent, against our farmers," Trump said.

The tariffs are not paid by the Chinese government or by firms located in China. They are paid by importers of Chinese goods, usually American companies or the U.S.-registered units of foreign companies.

On Monday, China said it would impose higher tariffs on a range of U.S. goods, including frozen vegetables and liquefied natural gas, striking back in its trade war with Washington after Trump warned it not to.

Last year, Beijing imposed tariffs on imports of U.S. agricultural goods, including soybeans, grain sorghum and pork as retribution for U.S. levies.

While farmers have largely remained supportive of Trump, many have called for an imminent end to the trade dispute, which propelled farm debt to the highest levels in decades and worsened credit conditions for the rural economy.

Trump's pledge on Friday to buy American farm products that China normally imports and distribute them to poor countries drew criticism from Canada.

"Dumping products in developing countries is not the way we do things," Canadian Agriculture Minister Marie-Claude Bibeau told reporters on a conference call from the G20 meeting in Japan, adding such efforts required multilateral coordination.

"It seems easy, but it is complicated to do it the right way," Bibeau said. "Obviously, it may create some distortion in the market and this is what we want to avoid."


(Reporting by Jeff Mason; Additional reporting by Rod Nickel in Winnipeg, Manitoba; Writing by Tim Ahmann and Humeyra Pamuk; Editing by Jonathan Oatis and Peter Cooney)

COMMENTS

More Related News

Trump renews attacks on Democratic congresswoman Omar
Trump renews attacks on Democratic congresswoman Omar
  • US
  • 2019-07-19 18:40:58Z

Somali-born U.S. congresswoman Ilhan Omar is "lucky to be where she is," President Donald Trump said on Friday, pressing on with attacks on four minority women Democratic U.S. representatives he has said should "go back" to where they came from. Trump on Thursday sought to distance himself from supporters' chants of "send her back" at a rally where he blasted Omar, as his fellow Republicans worried the sharp rhetoric might become a theme of his 2020 re-election campaign. "I'm unhappy when a congresswoman goes and says: 'I'm going to be the president's nightmare,'" Trump told reporter at the White House on Friday.

Iran claims US shot down its own drone by mistake
Iran claims US shot down its own drone by mistake
  • World
  • 2019-07-19 08:23:33Z

Iran denied on Friday denied lost a drone in the Strait of Hormuz after President Donald Trump said that a US Navy ship had "destroyed" an Iranian drone. Abbas Araqchi, Deputy Foreign Minister, said: "We have not lost any drone in the Strait of Hormuz nor anywhere else. I am worried that USS Boxer has shot down their own UAS [Unmanned Aerial System] by mistake!."  Brigadier General Abolfazl Shekarchi, an Iranian armed forces spokesman., added: Despite Trump's baseless and delusional claims, all of (Iran's) drones... have safely returned to their bases." "There have been no reports of a confrontation with the American USS Boxer" naval vessel, he added,...

The Latest: Trump claims he was
The Latest: Trump claims he was 'not happy' with chant

President Donald Trump says he "was not happy" when his supporters at a rally Wednesday night in North Carolina chanted "send her back" in reference to Democratic Rep. Ilhan Omar. Trump said this weekend that Omar and other progressive Democratic lawmakers of color should leave the country and "go back and help fix the totally broken and crime infested places from which they came" over their criticism of his administration.

President Trump says US Navy ship destroys Iranian drone in Strait of Hormuz
President Trump says US Navy ship destroys Iranian drone in Strait of Hormuz
  • World
  • 2019-07-18 20:52:00Z

"The Boxer took defense action against the drone which had closed into a very close distance, approximately a thousand yards, ignoring multiple calls to stand down and was threatening the safety of the ship and the ship's crew," Trump said at the White House. "This is the latest of many provocative and hostile actions by Iran against vessels operating in international waters," he continued.

Closer to War: U.S. Troops Aboard Amphibious Assault Ship Force Down Iranian Drone
Closer to War: U.S. Troops Aboard Amphibious Assault Ship Force Down Iranian Drone
  • World
  • 2019-07-18 20:42:00Z

U.S. troops aboard an amphibious assault ship on July 18, 2019 forced down an Iranian drone over the Strait of Hormuz, U.S. president Donald Trump announced.The downing comes just a few weeks after Iranian forces downed an American drone in the same area. The mutual shoot-downs could escalate the already tense situation in the Persian Gulf region.Trump said the unmanned aerial vehicle threatened USS Boxer.Pentagon spokesman Jonathan Hoffman told The New York Times that Boxer was in international waters at the time of the incident. The drone "closed within a threatening range" before Boxer took action.U.S. Marines embarked on Boxer used radio-jamming gear to bring down the drone, CNN...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Economy

facebook
Hit "Like"
Don't miss any important news
Thanks, you don't need to show me this anymore.