The trade issues we've posted about on FoodProcessing.com as of late may have a new pivot point thanks to a plan by Donald Trump to offer farmers $12 billion in emergency aid.
The aid is expected to offset the impact of the foreign trade war being executed by the Trump Administration.
U.S. farmers, particularly soybean growers, have felt the brunt of the retaliatory tariffs. While China has been most notable in the news, the EU, Canada, and Mexico all have experienced issues due to U.S. levies on imports. Those same countries have responded by placing their own tariffs on U.S. agricultural exports.
The plan to offer farmers the $12 billion in relief was not met with agreement among many senators in Trump's own party. According to reports, a number of lawmakers agree that the plan doesn't solve the problem of the administration's trade policies, but instead creates a welfare effect that goes against free-market principles.
Meanwhile, President Trump took a moment to proclaim his excitement about tariffs on Twitter yesterday.
Tariffs are the greatest! Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs. It’s as simple as that - and everybody’s talking! Remember, we are the “piggy bank” that’s being robbed. All will be Great!— Donald J. Trump (@realDonaldTrump) July 24, 2018