Trump wants taxpayers to payoff corporate farmers screwed by his Trade War

❝ President Donald Trump set off a wave of outrage…among Republican lawmakers, who accused the president of authorizing a “bailout” and “welfare” for Americans caught in the crosshairs of his own tariffs.

“It’s awful. American farmers want markets, not handouts. This is what we feared all along—that this would just turn into more aid programs,” Sen. Jeff Flake (R-AZ) told The Daily Beast.

❝ Reactions—nearly all of them negative—poured in from Capitol Hill after the Department of Agriculture announced that it would authorize $12 billion in “emergency” subsidies to farmers whose businesses have been hurt by the president’s trade policies, which have sparked retaliatory tariffs from China, Canada, Mexico, and the European Union…

❝ “Our farmers have been in non-stop saying they want trade not aid. And now they’re being put on welfare. So the tariff policies that have been put in place by the administration are now causing them to invoke a welfare policy for our farmers, which I’m sure is not what they wish,” Sen. Bob Corker (R-TN), who has proposed legislation requiring congressional approval of some tariffs, told reporters…

“The administration creates a problem for farmers, and now they need to put them on welfare. I think that’s kind of a misplaced policy,” Corker added.

RTFA for even more. When I first heard this silly-ass proposal my hope was that a few Congressional Republicans remained who weren’t full-time Trump pimps – and would raise a fuss. Here we go!

7 thoughts on “Trump wants taxpayers to payoff corporate farmers screwed by his Trade War

  1. Gweilo says:

    🁢 “U.S. farmers planted more soybean acres than corn for the first time in 35 years even as domestic soy supplies reached the biggest on record for early June, the U.S. Agriculture Department said on Friday.”
    🁢 Soybean prices in the U.S. and Brazil, the nations that account for roughly 80 percent of global exports, have taken drastically different paths thanks to Donald Trump’s trade war.
    🁢 “Soybean giant Brazil swoops on US crop as China trade war punctures prices : Non-Chinese buyers cash on American supplies to feed demand in their own countries, analysts say”
    🁢 “China, which imports 60 per cent of the soybeans traded worldwide, bought 32.9 million tonnes from the US last year, accounting for 34 per cent of total purchases.
    That total is forecast to drop by 6.8 million tonnes for the 2018/19 crop year, according to the US Department of Agriculture.”
    🁢 “Chinese money pours into Brazil as US trade war bites, with US$54 billion across 100 projects”

  2. Hey, Rube! says:

    Sen. Chuck Grassley (R-Iowa) supported President Donald Trump’s $12 billion bailout for U.S. farmers to mitigate the damaging effects of the trade war. Now the senator is applying for those same bailout funds for his own 750-acre Iowa farm, The Washington Post reports.
    Bailout money isn’t being provided to other industries impacted by the trade war. The U.S. Department of Agriculture has already cut some 7,800 checks worth a total of $25 million for farmers, many in the swing states of the Midwest that voted for Trump in 2016.

  3. 3card Monte says:

    Nov. 19, 2018: “Farm bailout payments intended to offset the impacts of President Trump’s trade war have instead flowed to more than 1,000 “city slickers” who live in the nation’s largest cities, an EWG analysis of Department of Agriculture data shows. The payments detailed in the data released to EWG through a Freedom of Information Act request represent only a tiny fraction of the almost $5 billion in payments expected to come.”
    “Spoils of Trade War: Argentina Loads Up On Cheap U.S. Soybean” Argentina – one of the world’s top soybean exporters, and the top exporter of processed meal and oil – usually has no reason to import beans. But this year, the South American nation has raced to the top of the list of U.S. soybean importers because the prices of U.S. beans have fallen by 15 percent since late May, when China first threatened tariffs on them. China’s soybean tariffs, which have virtually halted purchases of U.S. soybeans that last year totaled $12 billion, came in retaliation for Trump’s duties on Chinese steel and aluminum. That has left U.S. farmers and grains merchants with huge inventories of soybeans because China typically buys 60 percent of U.S. soy exports. Meanwhile, on a delivered basis to China, Canadian soybeans were fetching a premium of up to $3 per bushel this fall over the Chicago futures price, more than double the premium U.S. soybeans make in export markets.

    • Update says:

      The Trump administration announced Monday a second and “final” round of trade aid for farmers and ranchers burned by retaliatory tariffs, including roughly $4.9 billion [$4,900,000,000] in additional direct payments for certain commodity producers. “The second batch of trade relief payments is President Donald Trump’s latest effort to stem the pain inflicted on U.S. agricultural producers by his trade feuds. But just as with the first round, commodity groups are complaining that the aid is not nearly enough to offset the damage from retaliatory duties.
      The move brings the total direct payments to farmers to nearly $9.6 billion [$9,600,000,000] More than 75 percent of the direct trade relief is devoted to soybean growers, who have been slammed by the drop in demand from China, the largest foreign market for U.S. soy.”
      The American Soybean Association (ASA) represents 300,000 soybean farmers in what used to be a $14 billion industry.
      Rep. Justin Amash (R-Mich.) on Monday night fired back at President Trump over the president’s $12 billion farm aid package, calling it a “bailout.”
      “My fellow Republicans used to oppose bailouts,” Amash wrote, responding to Trump’s tweet from earlier in the day. “Now, they euphemistically call them ‘market facilitation payments.'”
      “@POTUS’s big-government trade policy hurt many farmers and ranchers, and he’s responding with even bigger government,” Amash added.

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