Federal aid to Iowa farmers provides 'short-term fix... not a long-term solution'

Federal aid to Iowa farmers provides 'short-term fix... not a long-term solution'

The Trump administration on Tuesday said it would provide up to US$12 billion in aid for USA farmers to shield them from the repercussions felt by trade spats between the United States and China, the European Union and others.

Senator Ben Sasse, a Nebraska Republican, said in a statement: "This trade war is cutting the legs out from under farmers and White House's "plan" is to spend $12 billion on gold crutches".

On the cusp of a trade war with the European Union, President Donald Trump meets Wednesday with European Commission President Jean-Claude Juncker, who comes armed with options to diffuse the threat of a 20 percent tariff on European cars.

The tariffs and their welfare handouts are no more than pre-midterm salve for rankled farmers who are more than a little resentful to hear closing market doors in the Far East. Kansas Senator Pat Roberts said, "Once you lose a market you lose it".

Farmers and producers should be able to begin signing up for the aid beginning in September.

"Great to see [Trump] providing aid to farmers impacted by retaliatory tariffs", Cramer wrote on Twitter. But the senior European official admitted that even lowering or eliminating tariffs on steel, aluminum, cars and agricultural products won't significantly address the more $100 billion trade deficit the USA has with the EU.

Finally, the CCC will use its Charter Act authority for a Trade Promotion Program administered by the Foreign Agriculture Service (FAS) in conjunction with the private sector to assist in developing new export markets for our farm products. You watch what's going to happen. "Working with loan programs that allow farmers to have an extended line of credit to give farmers more time to pay back doesn't solve the problem, that just gives us time to stay afloat". "I have an idea for them". Rural voters - many who have deep ties to farming - helped catapult Trump to the presidency in 2016, and China's retaliatory tariffs specifically targeted politically important states and areas. When the conditions were struck, the USA favored a 25 percent tariff on European trucks and SUVs. "Ryan's comments come just hours after Trump tweeted that tariffs were the "greatest" and viewed America as a "'piggy bank" that was being "robbed".

"Farmers need contracts, not compensation, so they can create stability and plan for the future", said Brian Kuehl, executive director of Farmers for Free Trade, in a statement. The US imported roughly $46bn of the two metals in 2017.

Shortly after her comments, Heitkamp announced a new bill aimed at helping farmers and ranchers recover their losses as a result of the administration's trade policies. China, for example, imposed 25% tariffs on soybeans, corn and wheat along with beef, pork and poultry since July 6. "The answer is remove the tariffs". "I don't think this will cover us for a very long time - and it might not even buy me a tank of diesel".

The imposition of punishing tariffs on imported goods has been a favored tactic by Trump, but it has prompted USA partners to retaliate, creating risks for the economy.

The tariffs came in response to $34 billion worth of duties the Trump administration placed on Chinese products. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that past year totaled $335 billion. The U.S. and European allies have been at odds over the president's tariffs on steel imports and are meeting as the trade dispute threatens to spread to automobile production.

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