The Trump administration is prepping its initial $4.7 billion bailout to farmers hit by Donald Trump’s trade war with China. Around $3.6 billion of the money will go to soybean farmers, since China has been the top export destination for their product, but corn, cotton, dairy, hogs, sorghum, and wheat farmers are also eligible to apply for the assistance beginning on September 4.
Even from farmers, the reviews are mixed:
“Right now, farmers are hurting, and this aid will allow a momentary reprieve,” said [Minnesota Soybean Growers Association] President Michael Petefish. “Unfortunately, if this trade war continues much longer, this aid package will feel less like a Band-Aid, and more like a reminder of the trade relationships we lost and must rebuild.”
The Trump administration is bypassing Congress by paying for the aid with a Depression-era program, sparing vulnerable Republicans a tough vote before the November midterm elections. This initial $4.7 billion is planned as part of an overall $12 billion in aid to farmers, coming from the party that wants to cut food stamps for hungry families.
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