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US to pay billions in aid to farmers hit by Trump trade war | France24 | Farm products have borne the brunt of tariffs imposed by trading partners angered by US trade actions, and Agriculture Secretary Sonny Perdue said the aid program will provide relief. The program will "assist farmers in response to trade damage caused by illegal retaliatory tariffs," which the USDA (United States Department of Agriculture) estimated at $11 billion, Perdue told reporters. He said this was a "short-term" solution to help farmers and give President Donald Trump time to negotiate a longer term trade deal to help agriculture and other sectors hurt by unfair trading practices by China and others. The aid for farmers announced today is clear statement that other nations can't bully our agricultural producers to force the U.S. to cave in to unfair trade practices & retaliatory tactics. @POTUS makes good on promise to stand by farmers. (_link)— Sec. Sonny Perdue (@SecretarySonny) July 25, 2018
Farm products have borne the brunt of tariffs imposed by trading partners angered by US trade actions, and Agriculture Secretary Sonny Perdue said the aid program will provide relief.
The program will "assist farmers in response to trade damage caused by illegal retaliatory tariffs," which the USDA (United States Department of Agriculture) estimated at $11 billion, Perdue told reporters.
He said this was a "short-term" solution to help farmers and give President Donald Trump time to negotiate a longer term trade deal to help agriculture and other sectors hurt by unfair trading practices by China and others.
The aid for farmers announced today is clear statement that other nations can't bully our agricultural producers to force the U.S. to cave in to unfair trade practices & retaliatory tactics. @POTUS makes good on promise to stand by farmers. (_link)— Sec. Sonny Perdue (@SecretarySonny) July 25, 2018
The aid for farmers announced today is clear statement that other nations can't bully our agricultural producers to force the U.S. to cave in to unfair trade practices & retaliatory tactics. @POTUS makes good on promise to stand by farmers. (_link)
US farmers 'want trade not aid' he latest development in a rolling trade dispute between the US and China features a recognition of impact and US$12bn in relief funding from the United States Department of Agriculture (USDA) to US farmers. The short-term relief funding will be distributed through a number of programmes like direct payments to farmers, commodity purchases for food-aid programmes, and increased promotion to other export markets looking for US products, according to Bloomberg. "This is a short-term solution to allow president Trump time to work on long-term trade deals to benefit agriculture and the entire U.S. economy," said US secretary of agriculture, Sonny Perdue, in a statement. Mark Powers, director of the Northwest Horticultural Council told Asiafruit, "The tariffs imposed by the People's Republic of China (40 percent on apples, pears and cherries) and Mexico (20 percent on apples) plus the 25 percent tariff on apples India has indicated it will impose August 4 of this year will affect $500 million of export volume." The US$12bn in relief funding was calculated based on a predicted US$11bn impact that retaliatory tariffs will have on the entire agricultural economy, from fresh fruit to soy and grain. "Unfortunately, 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," said Perdue. Despite his comment, China's multiple retaliations to president Donald Trump's implemented tariffs have been in line with World Trade Organisation (WTO) regulations.
he latest development in a rolling trade dispute between the US and China features a recognition of impact and US$12bn in relief funding from the United States Department of Agriculture (USDA) to US farmers.
The short-term relief funding will be distributed through a number of programmes like direct payments to farmers, commodity purchases for food-aid programmes, and increased promotion to other export markets looking for US products, according to Bloomberg.
"This is a short-term solution to allow president Trump time to work on long-term trade deals to benefit agriculture and the entire U.S. economy," said US secretary of agriculture, Sonny Perdue, in a statement.
Mark Powers, director of the Northwest Horticultural Council told Asiafruit, "The tariffs imposed by the People's Republic of China (40 percent on apples, pears and cherries) and Mexico (20 percent on apples) plus the 25 percent tariff on apples India has indicated it will impose August 4 of this year will affect $500 million of export volume."
The US$12bn in relief funding was calculated based on a predicted US$11bn impact that retaliatory tariffs will have on the entire agricultural economy, from fresh fruit to soy and grain.
"Unfortunately, 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," said Perdue.
Despite his comment, China's multiple retaliations to president Donald Trump's implemented tariffs have been in line with World Trade Organisation (WTO) regulations.
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