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The Trump administration on Tuesday announced $ 12 billion in emergency aid to US farmers affected by US tariff retaliation, recognizing the first collateral damage of the trade dispute.
US Secretary of State Agriculture, Sonny Perdue, said the money would be given to farmers who are struggling with "illegal tariff retaliation" like soybean, pork, fruit, rice and milk producers.
The latter have been particularly targeted in recent months by customs taxes imposed by US trading partners, who have decided to retort US tariffs on steel, aluminum or taxes on tens of billions of dollars. imports
These subsidies are a "short-term" solution pending the conclusion of a trade agreement Long term, Sonny Perdue said.
A concession from Donald Trump
With this financial aid, the Trump administration seems to concede for the first time that its escalation strategy in tariffs, no only with China but also with the European Union, Canada and Mexico, has a negative effect on some US sectors.
This announcement contrasts with the statements of the US President on Tuesday. In a tweet, he badured that "all would be well" in international trade.
"Tariffs are the best! Either a country that treated the United States unfairly on trade negotiates a fair deal or he is hit by tariffs, "tweeted the Republican billionaire. "It's as simple as that – and everyone is arguing – remember, we're the 'piggy bank' that's being robbed, and everything will be fine!", He continued. [19659009] Tariffs are the greatest! United States unfairly on Trade Negotiates a fair deal, or it gets hit with Tariffs. It's as simple as that – and everybody's talking! Remember, we are the "piggy bank" that's being robbed. All will be Great!
– Donald J. Trump (@realDonaldTrump) July 24, 2018
Between 11 and 13 billion dollars in losses
Faced with the attacks of the Trump administration, the measures retaliatory, affecting US agricultural exports to China, Mexico, Canada as well as a range of typical products destined for Europe ranging from bourbon to jeans.
For US farmers, the loss of revenue that these taxes have incurred since the beginning of the trade conflict amounted to $ 11 billion, said the Minister of Agriculture, and $ 13 billion, according to the agricultural profession that has been worried for months the impact of retaliation
The $ 12 billion support plan includes direct badistance to farmers and a program to buy production and help promote distribution.
Farmers not quite rebadured [1965] 9006] The farmers on their side did not seem completely rebadured. While acknowledging the $ 12 billion in aid, the National Farmers Union, a leading farmers' organization, called on the government to "do more to provide a lasting solution to the long-term damage caused by the trade war."
"It's the livelihoods (farmers) that are at stake with every tweet, every threat or customs tariff declaration coming from the White House," responded the farm organization.
For the American Farm Bureau Federation, federal aid "is a positive news that saves us time". "But we can not emphasize enough the terrible consequences faced by farmers given the loss of export markets." Since the conflict, the price of soybeans has dropped 25% to its lowest level since 2008-2009.
