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The initiative, which would not allow any new money and therefore no need for congressional approval, was a way for Mr. Trump to tamp down critics of his trade policy. But it was also an unequivocal signal that the President did not intend to lift its rates anytime soon, as pleaded the Farm Belt Senators.
The plan was quickly condemned by Republicans and commercial groups. "This trade war is cutting farmers' feet and the White House's" plan "is to spend $ 12 billion on crutches," said Senator Ben Sasse. , Republican of Nebraska. "The tariffs and bailouts of this administration are not going to make America even more beautiful, they're just going to make 1929 again."
A commercial group leader said that farmers need contracts, not help, for stability. The best relief for the president's trade war would be to end the trade war, "said Brian Kuehl, executive director of the Farmers for Free Trade business group, adding," " This proposed action would only be short-term attempt to mask the long-term damage caused by tariffs. "
Farmers' groups claim that their members have already suffered from falling global commodity prices and natural disasters, and the prospect of retaliation has once again fueled global markets. soybeans, meat and other US agricultural exports, and farmers warn that tariffs cost them valuable foreign contracts that took years to gain.
trading strategy that will allow the President to get better trade deals, and the pain that tariffs inflict is small compared to potential economic gains.
In an interview with CNBC last week, Peter Navarro, White House Commercial Counselor , said that the amount of trade affected by the tariffs was a "rounding error" compared to the vast size of the Chinese and American economies. "My point of view is that it is much less disturbing than these titles suggest, "he said.
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