Agriculture Secretary Sonny Perdue says the plan will help a broad number of farmers deal with the cost of "disruptive markets" as US trading partners have retaliated for President Donald Trump's tariffs on imported goods.
The Trump administration is preparing a plan to provide billions of dollars in emergency aid to farmers who have been hurt by tariffs. After Trump hit China with tariffs, they responded with a 179 percent retaliatory tariff on us sorghum.
It will rely in part on a Depression-era program called the Commodity Credit Corporation, a division of the Agriculture Department that was created in 1933 to offer a financial backstop for farmers. Retaliatory tariffs against the United States have included additional export costs for soybeans, pork, and beef, among other goods and services.
"Tariffs are the greatest!" the president wrote on Twitter. Sasse released a statement saying "This trade war has been cutting the legs out from under farmers and White House's "plan" is to spend $12 billion on gold crutches".
Democratic U.S. representative Jackie Speier of California, a major agricultural state, blasted the Republican president over the reported plan.
"Either a country which has treated the U.S. unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs".
Trump has threatened to place penalty taxes on up to $500 billion in products imported from China, a move that would dramatically ratchet up the stakes in the trade dispute involving the globe's biggest economies. House Speaker Paul Ryan of Wisconsin said lawmakers are making the case to Trump that tariffs are "not the way to go". He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that a year ago totalled $335 billion.
Trump is meeting with European Commission President Jean-Claude Juncker (zhahn-KLOHD' YUN'-kur) on Wednesday.
In the past four months, Trump has imposed tariffs against steel and aluminum imports from China, Canada, Mexico, the European Union, Japan, and a range of other countries, and he is threatening to broaden the scope of the tariffs to cars and uranium imports, among other things.