Trump Administration Plans Up to $12 Billion in Farm Aid to Ease Concerns Over Trade Disputes
By Vivian Salama
Updated July 24, 2018 2:10 p.m. ET, The Wall Street Journal
WASHINGTON—The Trump administration on Tuesday is expected announce a plan to extend some $12 billion in emergency aid to farmers amid growing concerns that the U.S. agricultural sector could suffer from President Donald Trump’s escalating trade dispute with allies, a person familiar with the matter said.
The trade rift between the U.S. and some of its closest allies has prompted retaliations and legal actions following President Trump’s decision earlier this year to impose tariffs of 10% on aluminum imports and 25% on steel imports from Canada, Mexico and the EU.
The president has also levied tariffs on $34 billion in imports of electronic goods, machinery and other products from China, with another $16 billion expected in the next few weeks. He has also said he would assess tariffs on a further $200 billion on a range of consumer products.
China, in response to a series of U.S. tariffs, has levied duties on $34 billion of U.S. products, covering 545 categories, ranging from soybeans, pork, chicken and seafood to sport-utility vehicles and electric vehicles.
