Title Title
US government pays out to protect farmers hit by trade war US government pays out to protect farmers hit by trade war
Summary Summary
The U.S. Department of Agriculture announced details of a $12 billion package for farmers affected by first round of trade dispute The U.S. Department of Agriculture announced details of a $12 billion package for farmers affected by first round of trade dispute
Highlights Highlights
Content Content
<strong>The U.S. Department of Agriculture announced the details of a $12 billion support package for farmers affected by its trade war with China.</strong>  <strong>The U.S. Department of Agriculture announced details of a $12 billion support package for farmers affected by its trade war with China.</strong>
In a <a href="https://www.usda.gov/media/press-releases/2018/08/27/usda-announces-details-assistance-farmers-impacted-unjustified">statement</a>, Secretary of Agriculture Sonny Perdue, said Trump had instructed him to ensure farmers did not "bear the brunt of unfair retaliatory tariffs," and added that the tariffs would benefit agriculture "in the long run."  In a <a href="https://www.usda.gov/media/press-releases/2018/08/27/usda-announces-details-assistance-farmers-impacted-unjustified">statement</a> released August 27, Secretary of Agriculture Sonny Perdue, said Trump had instructed him to ensure farmers did not "bear the brunt of unfair retaliatory tariffs," and added that the tariffs would benefit agriculture "in the long run."
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The Office of the U.S. Trade Representative announced a new tranche of tariffs on Chinese goods on August 23, amounting to an additional $16 billion on top of around $34 billion of tariffs on Chinese goods in July.  
  The Office of the U.S. Trade Representative <a href="https://www.wikitribune.com/story/2018/08/23/war-and-conflict/us-china-trade-war-escalates-with-new-tariffs/85110/">announced</a> a new tranche of tariffs on Chinese goods on August 23, amounting to an additional $16 billion on top of around $34 billion of tariffs on Chinese goods in July.
The Chinese government responded almost immediately with about $16 billion worth of tariffs on U.S. imports. The Chinese government responded almost immediately with about $16 billion worth of tariffs on U.S. imports.
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The majority of the funding has been assigned to the Market Facilitation Program, within which Soybean farmers will receive an initial $3.6 billion. The funding for this program could be increased if necessary, said Perdue. The majority of the funding has been assigned to the Market Facilitation Program, within which Soybean farmers will receive an initial $3.6 billion. The funding for this program could be increased if necessary, said Perdue.
The full breakdown of the support package can be found <a href="https://www.usda.gov/media/press-releases/2018/08/27/usda-announces-details-assistance-farmers-impacted-unjustified">here</a>. The full breakdown of the support package can be found <a href="https://www.usda.gov/media/press-releases/2018/08/27/usda-announces-details-assistance-farmers-impacted-unjustified">here</a>.
The U.S. Department of Agriculture <a href="https://www.usda.gov/media/press-releases/2018/07/24/usda-assists-farmers-impacted-unjustified-retaliation">estimated</a> in July that Chinese tariffs would cost farmers around $11 billion. The U.S. Department of Agriculture <a href="https://www.usda.gov/media/press-releases/2018/07/24/usda-assists-farmers-impacted-unjustified-retaliation">estimated</a> in July that Chinese tariffs would cost farmers around $11 billion.
<ul> <ul>
<li><em>Are there other estimates available? What about the impact of the new tariffs announced August 23?</em></li>  <li><em>Are there other estimates available? What about the impact of the new tariffs announced August 23?</em></li>
</ul> </ul>
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The Chinese Ministry of Commerce has accused the U.S. of violating World Trade Organization rules. Other world leaders have <a href="https://www.wikitribune.com/story/2018/08/23/war-and-conflict/us-china-trade-war-escalates-with-new-tariffs/85110/">criticized</a> the tariffs and warned about the potential impact on economic growth. The Chinese Ministry of Commerce has accused the U.S. of violating World Trade Organization rules. Other world leaders have <a href="https://www.wikitribune.com/story/2018/08/23/war-and-conflict/us-china-trade-war-escalates-with-new-tariffs/85110/">criticized</a> the tariffs and warned about the potential impact on economic growth.
<ul> <ul>
<li><em>Has the U.S. breached WTO rules and what could be the implications?</em></li>  <li><em>Has the U.S. breached WTO rules and what could be the implications?</em></li>
</ul> </ul>
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Read more: <a href="https://www.wikitribune.com/story/2018/07/12/economics/asking-the-experts-on-trumps-dismantling-american-trade-policies/78264/"><em>Asking the experts on Trump's "dismantling" American trade policies.</em></a> Read more: <a href="https://www.wikitribune.com/story/2018/07/12/economics/asking-the-experts-on-trumps-dismantling-american-trade-policies/78264/"><em>Asking the experts on Trump's "dismantling" American trade policies.</em></a>
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Categories Categories
Economics Automobiles, Business, China, Current Affairs, Diplomacy, Economics, Markets, North America, Politics, United States, Economics
Article type Article type
  emerging
Tags Tags
  Donal, Donald J Trump, farmers, Sonny Perdue, soybeans, tariffs, Trade War
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