Trump to spend $12B on farm subsidies for tariff damage he caused

[K1052]

So much winning and a transparent attempt to insulate himself from self inflicted political damage with more debt issued by the gov.

An announcement could come as soon as Tuesday, according to two people briefed on the matter. This is the latest sign that growing tensions between the United States and other countries will not end soon.

Farm groups have complained that Trump’s tariffs on foreign imports have led other countries to retaliate with tariffs on U.S. products, jeopardizing farmers’ overseas sales of soybeans and other crops.

Under the White House plan, the money will be disbursed in at least three ways, coming through direct assistance, a food purchase and distribution program, and a trade promotion program

https://www.washingtonpost.com/busi...3fff17f0689_story.html?utm_term=.fb438d8e6577

I can only imagine the coming pressure from manufacturing soon to prop them up too but that tab would be easily 10 times that.

 

[fskimospy]

Man, this easy to win trade war is getting more expensive all the time. When does the winning start?

 

[soulcougher73]

Wait. This cant be right. Must be fake news. GOP is all about fiscal conservatism and not propping up failing businesses. Even ones caused by their policies. Right?.....

 

[trenchfoot]

If some shithead Repub ever, EVER mentions having a balanced budget and honesty in gov't as their guiding light toward taking office I will fire off a message to my Senators and Reps pointing out that these bastards need be loudly and constantly called out for the supreme hypocrisy of their rhetoric.

But it may be a futile gesture on my part simply because as we've all been witness to, Trump and his underlings in the Legislature can say anything and do anything, they can promise that Mexico will pay for Trump's Wall, they can promise that THEIR Health Care Plan will be sooooo much better than Obamacare, they can promise that THEIR Tax Cut Plan would heap riches on the middle class and not mean a single word of it but their constituency will simply buy into it, not question these promises at all when they aren't fulfilled, not feel anything like they were betrayed and go right on voting for these same assholes that keep lying to them time after time after time and keep stabbing them in the back with the very "promises" their politicians made to them.

 

[vi edit]

But I was told entitlements were only for poor non-white people.

 

[thilanliyan]

Mid-term damage control?

 

[K1052]

Mid-term damage control?

Yep, headlines are bad across a decent swath of farm country. Remains to be seen how this will be received though since Trump, very publicly and intentionally, blew up their export markets that took years or decades to establish and will lead to permanent loss of market share. Short term subsidies paper over some of the pain but they all know it's there.

 

[thilanliyan]

Yep, headlines are bad across a decent swath of farm country. Remains to be seen how this will be received though since Trump, very publicly and intentionally, blew up their export markets that took years or decades to establish and will lead to permanent loss of market share. Short term subsidies paper over some of the pain but they all know it's there.

I hope they don't vote against their own best interest.

 

[K1052]

I hope they don't vote against their own best interest.

It is traditional.

 

[senseamp]

Why are farmers getting bailed out with this porkulus, but not other impacted industries? What about consumers who are going to have to pay higher prices?

 

[KB]

Subsidizing your markets, although done by most countries, is against WTO rules, thus likely to make us lose any WTO suits against us. I guess now he has a reason to get us out of the WTO.

 

[Sonikku]

I hope they don't vote against their own best interest.

Oh they will. And after the election, much of the buffers might just "disappear".

 

[K1052]

Why are farmers getting bailed out with this porkulus, but not other impacted industries? What about consumers who are going to have to pay higher prices?

Because he can borrow $30B from the treasury under an existing program without needing congressional approval to do it. That option is not available for other industries who I'm sure are going to be super tickled that they'll be left out in the wind.

 

[fskimospy]

It's kind of incredible that basically all Trump has done this entire year is combat problems that he created himself. Next up, 'solving' the Iran crisis he caused?

 

[K1052]

It's kind of incredible that basically all Trump has done this entire year is combat problems that he created himself. Next up, 'solving' the Iran crisis he caused?

I alone can fix the problems that I alone cause.

 

[Amused]

Further proof that Trump, and his supporters are not conservative. They are authoritarian white nationalists.

 

[K1052]

Keeping an eye on the Trump rally in IA gives a pretty good indication that the trade war has yet to really begin. Tells people to ignore the bad farm headlines cause they are lies and to believe in him basically.

Also Ivanka just shuttered her company that makes it's products guess where.

 

[Younigue]

The 12b in emergency aid for farmers will come in a direct assistance program created during THE DEPRESSION (no need for congressional approval)

If our economy is STRONGER THAN EVER - why are we using depression era emergency support? ~ Stephanie Ruhle

 

[KMFJD]

https://www.ewg.org/agmag/2016/06/members-congress-collect-least-95-million-farm-subsidies

 

[Bitek]

What does price subsidies fix? Won't be any Mexicans around to pick the crops anyway.

 

[Younigue]

What does price subsidies fix? Won't be any Mexicans around to pick the crops anyway.

Well, even Americans (enough of them) will pick crops if things get desperate enough. Trump's working on it.

 

[urvile]

Ah there it is. Yes trump has fucked american farmers.

Its great for australian agriculture though.

Thanks Donald and the american taxpayer can expect to continue subsidising trump's trade war even more in the future.

This is what happens you let an inept fool. Who is fond of strongman leaders. Surround himself with yes men and rule like an emperor.

Donald trump god emperor of france!

 

[urvile]

It's interesting for me with an outsiders perspective. I know for a fact Australian farmers are going to be making more money from Trump's trade war. The longer it goes on the more money they and other industries will make. In the greater scheme of the global economy it won't be a lot of money but it will be significant for the industries involved.

It will promote things like higher wages and jobs growth within those sectors.

China is by far Australia's largest trading partner. I don't know where the US sits but I doubt it's particularly relevant to our economy. China on the other hand is the land of milk and honey. That is not a situation unique to Australia.

 

[woolfe9998]

You guys do realize that this is just a different riff on giving us the shaft like they did when they cut taxes for the rich and corporations while cutting funding to healthcare for the poor and middle class?

It's kind of genius, actually.

Trump throws down tariffs and starts a trade war, for which he gains points with his base for being "tough on foreigners."

The problem is, of course, certain wealthy interests, some of them possibly Trump donors, may be hurt by said tariffs.

So the "farmers" are hurt because of retaliatory tariffs? Fact is, most of our agricultural output is concentrated in a small number of very large farms, mostly family owned. Big farms. Wealthy families. Smaller farms and hobby farms don't really export their stuff. They sell to farmer's markets and local grocery stores. It's the large, wealthy agribusiness which takes the hit from the tariff. They're the ones who undoubtedly do the bulk of the exporting. They're the ones we're giving away $12 billion of our money to. Oh, and Trump gains political points, once again, for "helping the farmers" because apparently many people still have this image of the peasant farmer from fiction stuck in their head.

Reverse wealth redistribition, and it works politically. Gotta give it at least an A- for concept and execution.

 

[urvile]

Australian baby formula is so popular in china. It has forced our major supermarket chains to restrict how many tins of baby formula can be bought at one time. We are wholesaling it into china as quick as we can but it cannot keep up with demand. So Chinese nationals in Australia set up businesses where they buy the baby formula retail then mail order it back into china.

It's crazy. Australian wine and meat (oh yeah baby) is also extremely popular and not just in china but other Asian countries as well. The bigger advantage trump gives us the better. Because we aren't exporting that shit into the US. We are competing with US exporters and trump is ensuring that they aren't competitive anymore.

Trum....pppp voters are a bunch of suckers. Australia thanks you though.