Trump Plans Billions in Bailout Funds for Farmers Hurt by the Tariffs He Insisted On
NOT ECONOMICS 101
President Trump is preparing to to give billions of dollars in aid to American farmers who have been suffering financially after other nations retaliated against his aggressive tariffs, according to a Tuesday report from Politico. China and many European nations have responded to Trump’s import tariffs by similarly taxing U.S. farm exports like pork, beef, and sorghum, which has significantly burdened U.S. farmers—a major constituency in the president’s political base. Politico adds that the plan will rely on two programs in the farm bill, as well as the “broad authority” of the Agriculture Department to maintain the agricultural economy “in times of turmoil.” The exact cost and structure of the aid program remains unclear.