US President Donald Trump has unveiled a $12 billion economic aid package for farmers, citing this as a response to the adverse effects of his trade policies. The assistance includes $11 billion in one-time payments to row-crop farmers, while other crops will receive funds at a later date.
Trump stated that this move aims to provide much-needed certainty to farmers as they prepare their harvests and look forward to the next planting season. He also emphasized that what farmers want is not handouts but a level playing field, where they can compete on equal terms with farmers from other countries.
The decision comes at a time when trade disputes with China have led to fluctuations in agricultural imports, causing instability for US farmers who are facing declining prices and high inflation. However, Trump attributes the woes of American farmers to factors such as "the worst inflation in modern history" and restrictions on essential resources.
Agriculture Secretary Brooke Rollins revealed that the program's funds will be allocated based on a specific timeline, with payments moving by 28 February. It is expected that farmers will receive more information about how much they can apply for within a few weeks.
This aid package echoes Trump's previous offer to US farmers in 2018 during his trade dispute with China. Notably, this move has been met with criticism from both sides of the aisle in Congress and from journalists who have expressed frustration with Trump's unconventional communication style.
Critics of Trump's policies point out that this bailout may be seen as a response to the fallout from his own trade actions rather than addressing the fundamental issues affecting US farmers. Nonetheless, the aid package is being hailed by many as a necessary step towards providing relief to those who are struggling.
Trump stated that this move aims to provide much-needed certainty to farmers as they prepare their harvests and look forward to the next planting season. He also emphasized that what farmers want is not handouts but a level playing field, where they can compete on equal terms with farmers from other countries.
The decision comes at a time when trade disputes with China have led to fluctuations in agricultural imports, causing instability for US farmers who are facing declining prices and high inflation. However, Trump attributes the woes of American farmers to factors such as "the worst inflation in modern history" and restrictions on essential resources.
Agriculture Secretary Brooke Rollins revealed that the program's funds will be allocated based on a specific timeline, with payments moving by 28 February. It is expected that farmers will receive more information about how much they can apply for within a few weeks.
This aid package echoes Trump's previous offer to US farmers in 2018 during his trade dispute with China. Notably, this move has been met with criticism from both sides of the aisle in Congress and from journalists who have expressed frustration with Trump's unconventional communication style.
Critics of Trump's policies point out that this bailout may be seen as a response to the fallout from his own trade actions rather than addressing the fundamental issues affecting US farmers. Nonetheless, the aid package is being hailed by many as a necessary step towards providing relief to those who are struggling.