Voice of America
24 May 2019, 04:05 GMT+10
WASHINGTON - President Donald Trump says he is 'honored' to give U.S. farmers hurt by the trade war with China another $16 billion in aid.
Flanked by potato growers, ranchers and dairymen in the White House, Trump said Thursday the aid 'will help keep our cherished farms thriving and make clear that no country has a veto on America's economic and national security.'
Trump added that trade has been 'very unfair' to the farmers who he says support him politically.
This is the second multibillion-dollar bailout the Trump administration has provided to U.S. farmers who have seen Chinese markets for their products dry up because of tariffs China imposed on U.S. goods to retaliate for U.S. tariffs on Chinese products. The White House gave farmers $12 billion last year.
U.S. Agriculture Secretary Sonny Perdue says farmers should see the first installment of the new $16 billion in aid in July or August. Perdue said he doubts if the United States and China can reach a trade deal by then.
Most of the money will go to farmers who grow and sell such crops as soybeans, corn, peanuts and wheat. Money will also be set aside to buy excess products from the farmers and send them to schools and food banks.
'I can't recall a president more concerned about farmer well-being. We are working hard to assess trade damages and this package ensures farmers will not bear the brunt,' Perdue said.
While Trump said Thursday that many farmers told him he is 'doing the right thing,' some trade experts call the bailout a political ploy and say farmers are more concerned about winning back the lost Chinese market.
Get a daily dose of Birmingham News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Birmingham News.
More InformationNEW YORK CITY, New York: Bitcoin surged to a new all-time high this week, buoyed by growing institutional interest and a wave of pro-crypto...
SHENZHEN, China: As global chip competition intensifies, Huawei Technologies is exploring new markets in the Middle East and Southeast...
LONDON/NEW YORK CITY: American grocery bills may be headed higher as coffee and orange juice prices face upward pressure from new tariffs...
BATTLE CREEK, Michigan: In a major consolidation of iconic food brands, WK Kellogg has agreed to be acquired by the owner of Ferrero...
WASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
Chandigarh (Punjab) [India], July 15 (ANI): Legendary marathoner Fauja Singh, fondly remembered as the 'Turbaned Tornado,' passed away...
Forget dtente, Moscow must fight to the end Many now speak of humanity's drift towards World War III, imagining events similar to...
London [UK], July 14 (ANI): England Test captain Ben Stokes classified tearaway Jofra Archer's blistering spell in the opening hour...
(Photo credit: Jack Gruber-Imagn Images) The Open Championship prize pool will remain at $17 million this week, the first time in...