One repercussion from President Donald Trump’s trade war and tariff policy is that it is going to affect the American taxpayer. The Trump administration announced it would extend $12 billion in emergency aid to farmers because the American agricultural field has been damaged by Trump’s policies.
The agricultural secretary, Sonny Perdue, said the government would provide incremental payments to support prices of some of the hardest-hit commodities, including soybeans, sorghum, cotton, corn, wheat and pork. The plan is expected to unfold in the coming months.
The agriculture secretary said the aid would not need congressional approval. The plan is in response to actions taken by our trading partners. Perdue said it was “illegal retaliation” by our trading partners.
An example is China. It is a huge market for U.S. agricultural exports. China has applied tariffs on $34 billion worth of U.S. goods, including soybeans and pork. Other U.S. allies such as Canada, Mexico and the European Union fall into the countries that have set retaliation tariffs. Canada’s tariffs have hurt U.S. newspapers which rely on newsprint (paper) from that country. There may be a compromise on tariffs with European Union countries.
Where is the aid for other industries damaged by Trump’s tariff policies?
It appears the Trump administration didn’t do its homework to determine the total impact from the U.S. tariff policies.
We aren’t against helping farmers, but the administration should be fair in giving out handouts to help others damaged by the Trump tariff policies.
In the end, as usual, the American taxpayer pays the bill in giving handouts because of the administration’s faulty decisions.