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The Department of Agriculture has paid out $7.7 billion so far to help farmers impacted by the ongoing tariff war with China, according to William Northey, Undersecretary for Farm Production and Conservation.
The funds represent a portion of the $12 billion relief package that President Donald Trump pledged in July to offset the losses from retaliatory tariffs imposed by Beijing in response to Washington's tariffs on Chinese goods.
Northey's comments come as Trump prepares to meet Friday with Chinese Vice Premier Liu He to continue the next stage of trade talks ahead of a March 1 deadline.
If the two countries fail to strike a deal, the current tariff rate of 10 percent will be raised to 25 percent, resulting in billions of dollars of additional tariffs. However, Trump hinted earlier this week that the March 1 deadline was flexible, saying it was not a "magical date" by which any compromise was assured.
If we lose the export markets, it will hurt us from an economic standpoint. It will hurt the ability to provide for our family,” Bob Hemesath, a fourth-generation pork producer and corn farmer in northern Iowa, told NBC News last year. “Agriculture is one of the biggest industries in Iowa. It supports a lot of jobs. If agriculture suffers, small-town main street suffers.”
Has to be fake news. Conservatives say all the time that it is the leftist urbanites who are sucking at the government teat. Red state Americans don’t take government handouts!! Right??? Right????!?
Hundreds of billions in annual deficits with China about to be solved... MAGA... Not one previous president has managed that feat or even come close...
Hundreds of billions in annual deficits with China about to be solved... MAGA... Not one previous president has managed that feat or even come close.
And neither has Trump but that’s not what you want to hear and even IF Trump fixes the problem, the damage is already done and it will be a while before the farmers break even.
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