West Tennessee farmers react to agricultural tariffs

West Tennessee farmers react to agricultural tariffs

West Tennessee farmers react to agricultural tariffs

Although the aid package acknowledges the problems tariffs have created for American farmers, President Trump appeared unlikely to end the ever-escalating trade war.

Help is on the way for Minnesota farmers suffering lost income from the trade wars. "America's hard-working agricultural producers have been treated unfairly by China's illegal trading practices and have taken a disproportionate hit when it comes illegal retaliatory tariffs".

Agriculture officials say the plan will not require congressional approval.

The assistance programs for farmers affected by tariffs will officially roll out in September. Ben Sasse, a Republican, criticized what he called a bailout, and the administration's underlying trade policy.

Donald Trump has hailed a "very big day for free and fair trade" after reaching a deal to avert a full-blown trade war with the EU.

"They have a positive attitude going into this".

Agricultural Committee Chairman Pat Roberts of Kansas says, "They would much prefer trade, rather than aid". That hits demand and brings down prices, cutting into farmers' business.

This will help producers of soy, sorghum, corn, wheat, pork, dairy, fruit, rice and nuts, all products hit by tariffs imposed in response to United States actions. Soybean prices were already falling, dropping 19 percent since early May to a 10-year low and corn is down more than 15 percent. America's farmers don't want to be paid to lose - they want to win by feeding the world. "However, it is fully understood by farmers that in a matter of months the impacts of those tariffs will impact the entire marketing chain", said Stanley. -China tariffs for a 30 percent drop in second-quarter profit. IL farmers export $3 billion of soybeans a year, and those markets are going to dry up. Trump has expressed that he is willing to tax all Chinese imports, $500 billion worth, if China doesn't reduce the trade deficit with the United States.

There's no sign of a quick resolution to the trade dispute.

"If he continues to demand tariff increases as he has been, or if he continues to agree with those who are against China, I definitely would not be able to accept (more orders)", she said.

"When people have bank loans to pay and they have to make the payment for next years product next years seed, next years fertilizer, it certainly helps with their cash flow situation if that program does get done quickly", he said.

Following the announcement, European Union trade commissioner Cecilia Malmstrom said the Washington-Brussels relationship had "turned a page".

April: China retaliates for metals tariffs by raising duties on $3bn-worth of USA products. "USDA will not stand by while our hard-working agricultural producers bear the brunt of unfriendly tariffs enacted by foreign nations".

The aid is meant to protect the industry as countries raise taxes on USA products such as soybeans in response to the president's new tariffs. "Tariffs are the greatest!"

Trump, who recently called the European Union "a foe" when it comes to trade, floated the notion that the two sides should drop all tariffs, subsidies and other devices that affect the price of goods flowing from one side of the Atlantic to the other. It's as simple as that - and every body's talking!

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