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$12bn Aid To US farmers As Trade War Intensifies

 

The Trump administration has announced a hopeful plan for the farmers amidst the trade war, which is worsening with every passing day. The government of the US has committed to assist the farmers with $12 billion when the other countries are imposing a tax on the US products. This is a retaliatory action taken by the countries in response to the tariffs imposed by Trump.

The farmers are kept away from this stringent condition and are offered with a subsidy on the purchase of the unsold crops.

Trump has stated that he has imposed the tariffs to improve the policies of the foreign countries towards the US. He also claimed that the farmers will be benefited in a huge manner once the latest trade deals are settled. On the other hand, the latest plans have enhanced the agitation among the farmers, which hold a major portion of the voters.

The farmers have a different perception towards the tariffs. They believe that the latest action is sabotaging the demands of the farming goods, which earns 20% of the comprehensive income from the exports. In fact, prices of the soybeans have depleted by more than 15% since the Chinese government had announced to retaliate.

According to the Executive Director of Farmers for Free Trade, Brian Kuehl, the farmers need a stable platform to explore the futuristic plans. This industry group deals with the pork producers and corn growers. He also requested the administration to get over the trade war with an immediate effect so that the new markets get an opportunity to establish its presence.

The Agriculture Department of the US is speculating a loss of around $11 billion due to the intensifying trade wars. According to the officials, the $12 billion assistance will be directly paid to the farmers for sorghum, soybean, and wheat, to be executed by September.