White House plans $12 billion pre-midterm payoff to keep farmers happy after Trump's tariff hit job
The White House is prepping a pre-midterm $12 billion payoff to farmers who largely backed Donald Trump in 2016 but have been getting killed by his trade war with the world. From soybeans to dairy to livestock, Trump has taken away key export markets for American farmers in Canada, Mexico, the European Union, and China. But the White House needs to make that pain go away before voters head to the polls this November and it plans to provide that salve courtesy of a buyout from American taxpayers. The New York Times writes:
The Trump administration on Tuesday will announce up to $12 billion in emergency relief for farmers hurt by the president’s trade war, according to two people familiar with the plans, in an effort to insulate food producers from looming financial losses that would be a direct result of Mr. Trump’s policies. [...]
The initiative, which would not authorize any new money and thus not need approval from Congress, was a way for Mr. Trump to tamp down on criticism of his trade policies.
While this may offer farmers some short-term good news, it's bad news for everyone in the long run. It means that Trump, rather than retreating from his misbegotten trade war, plans to double down on a position in which he has squandered U.S. leverage against more adversarial trade partners like China by simultaneously alienating U.S. allies.
Some farm advocates appear to be clear on the long-term implications of Trump's short-sightedness. Brian Kuehl, executive director of trade group Farmers for Free Trade, called the White House initiative "a short-term attempt at masking the long-term damage."
“The best relief for the president’s trade war would be ending the trade war,” Kuehl said.
The taxpayer-funded payoff also reinforces the notion that the White House considers tinkering with export markets small beer. Last week, White House trade adviser Peter Navarro called the mounting trade losses a "rounding error."
Some Republican lawmakers aren't particularly happy about the cover-up job. Wisconsin Sen. Ron Johnson said the administration's trade policies were looking “more and more like a Soviet-type of economy here" with "commissars" sprinkling around benefits. Tennessee Sen. Bob Corker accused the White House of "offering welfare to farmers to solve a problem they themselves created." No word yet on whether their words will ever be backed up by meaningful action, but don’t hold your breath.
My.....my......let the usual Reich Wing hypocrites twist and turn as they figure out a way to defend this.
https://m.dailykos.com/stories/1783156
The White House is prepping a pre-midterm $12 billion payoff to farmers who largely backed Donald Trump in 2016 but have been getting killed by his trade war with the world. From soybeans to dairy to livestock, Trump has taken away key export markets for American farmers in Canada, Mexico, the European Union, and China. But the White House needs to make that pain go away before voters head to the polls this November and it plans to provide that salve courtesy of a buyout from American taxpayers. The New York Times writes:
The Trump administration on Tuesday will announce up to $12 billion in emergency relief for farmers hurt by the president’s trade war, according to two people familiar with the plans, in an effort to insulate food producers from looming financial losses that would be a direct result of Mr. Trump’s policies. [...]
The initiative, which would not authorize any new money and thus not need approval from Congress, was a way for Mr. Trump to tamp down on criticism of his trade policies.
While this may offer farmers some short-term good news, it's bad news for everyone in the long run. It means that Trump, rather than retreating from his misbegotten trade war, plans to double down on a position in which he has squandered U.S. leverage against more adversarial trade partners like China by simultaneously alienating U.S. allies.
Some farm advocates appear to be clear on the long-term implications of Trump's short-sightedness. Brian Kuehl, executive director of trade group Farmers for Free Trade, called the White House initiative "a short-term attempt at masking the long-term damage."
“The best relief for the president’s trade war would be ending the trade war,” Kuehl said.
The taxpayer-funded payoff also reinforces the notion that the White House considers tinkering with export markets small beer. Last week, White House trade adviser Peter Navarro called the mounting trade losses a "rounding error."
Some Republican lawmakers aren't particularly happy about the cover-up job. Wisconsin Sen. Ron Johnson said the administration's trade policies were looking “more and more like a Soviet-type of economy here" with "commissars" sprinkling around benefits. Tennessee Sen. Bob Corker accused the White House of "offering welfare to farmers to solve a problem they themselves created." No word yet on whether their words will ever be backed up by meaningful action, but don’t hold your breath.
My.....my......let the usual Reich Wing hypocrites twist and turn as they figure out a way to defend this.
https://m.dailykos.com/stories/1783156
