• Revision ID 85584 PUBLISHED
  • 2018-08-28 12:39:48
  • by Deleted User (talk | contribs)
  • Note: US rather than U.S. in headlines
 
   
Title Title
U.S. government pays out to protect farmers hit by trade war  US government pays out to protect farmers hit by trade war
Summary Summary
Department of Agriculture announced details of a $12 billion package for farmers affected by first round of trade dispute 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 has announced details of a $12 billion (£9.3bn) support package for farmers affected by its trade war with China.</strong> <strong>The U.S. Department of Agriculture has announced details of a $12 billion (£9.3bn) 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> released August 27, Secretary of Agriculture Sonny Perdue said President 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 President 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."
<span style="font-weight: 400;">[contribute-c2a text="Something missing from the story? Say so" buttons="talk"]</span>  <span style="font-weight: 400">[contribute-c2a text="Something missing from the story? Say so" buttons="talk"]</span>
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 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.
<span style="font-weight: 400;">[contribute-c2a text="You can edit or expand this story" buttons="edit"]</span>  <span style="font-weight: 400">[contribute-c2a text="You can edit or expand this story" buttons="edit"]</span>
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>
<span style="font-weight: 400;">[contribute-c2a text="Know a fact to enhance this story? You can edit it" buttons="edit"]</span>  <span style="font-weight: 400">[contribute-c2a text="Know a fact to enhance this story? You can edit it" buttons="edit"]</span>
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
Automobiles, Business, China, Current Affairs, Diplomacy, Economics, Markets, North America, Politics, United States, Economics Automobiles, Business, China, Current Affairs, Diplomacy, Economics, Markets, North America, Politics, United States, Economics
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emerging emerging
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Donald J Trump, farmers, Sonny Perdue, soybeans, tariffs, Trade War Donald J Trump, farmers, Sonny Perdue, soybeans, tariffs, Trade War
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