U.S. unveils US$12 bil. bailout for farmers
- 6 years ago
The Trump administration has unveiled a 12 billion-dollar plan to help American farmers hit by President Trump's widening trade war with other countries.
Agriculture Secretary Sonny Perdue said Tuesday the emergency aid package will help mitigate losses incurred by what he called "illegal tariffs" on American agriculture exports.
Several countries have imposed heavy duties on U.S. goods in retaliation to President Trump's series of tariffs.
These retaliatory tariffs have especially taken its toll on soybean growers.
The 12 billion-dollar bailout plan includes providing subsidies to farmers and buying unsold crop.
However, the plan was denounced by some Republicans who said it will distort the agriculture industry by damaging long-term demand.
Agriculture Secretary Sonny Perdue said Tuesday the emergency aid package will help mitigate losses incurred by what he called "illegal tariffs" on American agriculture exports.
Several countries have imposed heavy duties on U.S. goods in retaliation to President Trump's series of tariffs.
These retaliatory tariffs have especially taken its toll on soybean growers.
The 12 billion-dollar bailout plan includes providing subsidies to farmers and buying unsold crop.
However, the plan was denounced by some Republicans who said it will distort the agriculture industry by damaging long-term demand.