- Trump unveiled a $12 billion support plan for US farmers hurt by recent EU and Chinese retaliatory tariffs.
- Among other measures, the plan calls for more farming subsidies and purchases of unsold crops.
- Given the exports account for 20% of US farm income, the retaliatory tariffs are expected to cost US farmers $11 billion in lost income.
- The first assistance will be distributed this September.
- In response, farm industry groups and congressional republicans have voiced preference of trade over aid (want Trump to end hostilities).
US to give farmers $12bn trade war bailout
(07/25/2018)