National Review/Jack Crowe: White House to Extend $12 Billion in Aid to Farmers Hurt by Trade War

National Review

Jul. 24, 2018

   

Politics & Policy    

White House to Extend $12 Billion in Aid to Farmers Hurt by Trade War
By Jack Crowe

July 24, 2018 11:36 AM

President Trump speaks during a news conference following his summit with Russian President Putin in Helsinki, Finland, July 16, 2018. (Grigory Dukor/Reuters)

The White House is expected to announce a plan to provide $12 billion in government aid to farmers harmed by the administration’s multi-front trade war, the Washington Post first reported Tuesday morning.

Under the plan, which could be announced as soon as Tuesday, farmers whose livelihoods have been harmed by the retaliatory tariffs resulting from President Trump’s trade war with China, NAFTA and the E.U. will be provided access to three distinct forms of aid: direct assistance, a food-purchase program and a trade-promotion program.

The announcement is expected to come as President Trump continues to escalate his protectionist rhetoric on U.S. trade with China.

The administration has already implemented tariffs on $34 billion in Chinese exports and Beijing has retaliated in kind, down to the dollar. In recent weeks, Trump has repeatedly threatened to implement tariffs on the entirety of China’s more than $5 billion export market, placing Beijing at a distinct disadvantage, given that it only has roughly $120 billion in U.S. exports available to hit with tariffs.
Stay Updated with NR Daily

NR's afternoon roundup of the day's best commentary & must-read analysis.

Soybean farmers have been hit particularly hard by the trade war as prices have plummeted. The president has repeatedly vowed to help soften the blow as Midwestern farmers, a key part of his base, have increasingly turned against his protectionism.

The aid proposal, which relies in part on a depression-era Department of Agriculture program designed to bail out farmers, is the product of a months-long research effort intended to help the administration see its trade war through by warding off domestic opposition in the farming community.

The depression-era program, known as the Commodity Credit Corporation, is empowered to borrow $30 billion from the Treasury Department absent Congressional approval.

A coalition of Republican lawmakers, such as Sen. Bob Corker of Tennessee and Ben Sasse of Nebraska, have been outspoken in their criticism of Trump’s protectionist tendencies while leadership has remained relatively muted in their opposition.

“This trade war is cutting the legs out from under farmers and White House’s ‘plan’ is to spend $12 billion on gold crutches. America’s farmers don’t want to be paid to lose – they want to win by feeding the world. This administration’s tariffs and bailouts aren’t going to make America great again, they’re just going to make it 1929 again,” Sasse said in a statement released following reports of the aid package.

Jack Crowe — Jack Crowe is a news writer at National Review Online.
More in Politics & Policy  
The Greatest Hysteria in American History
Democrats in Four States File a Misguided Lawsuit against the Tax-Reform Law
Russianism
The Middle East Is Capitalism’s Next Frontier
Recommended Articles
Most Popular
PC Culture  
The Sliming of Ben Shapiro
By David French
Law & the Courts  
Democratic Desperation on Kavanaugh Is Showing
By Dan McLaughlin
Elections  
Will New Jersey Send a Republican to the Senate?
By George Will
Politics & Policy  
The First Nationalist
By Kevin D. Williamson
National Security & Defense  
A New World Disorder
By Jonah Goldberg

    Login

© 2018 National Review

    Donate
    Subscribe

    Sections
        The Corner
        Bench Memos
        The Morning Jolt
        The G-File
        News
        All Articles
        All Authors
        Podcasts
        Photos
        Videos

    Topics
        Politics & Policy
        Culture
        White House
        Film & TV
        PC Culture
        U.S.
        World
        Immigration
        Economy & Business
        Elections

    Magazine
        Latest Issue
        Archive
        Subscribe
        Customer Care
        NRPLUS
        Magazine FAQ

    About
        Frequently Asked Questions
        The Masthead
        Contact Us
        Privacy Policy
        Terms of Service
        NR Institute

    More
        Advertise
        Donate
        Search
        E-mails & Alerts

Newsletters
Morning Jolt (M-F)
NR Daily (M-Sa)
The G-File (F)
Breaking News (M-Su)

© 2018 National Review
:)