Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Trump: U.S. may give farmers more aid until trade deals 'kick in'

Published 02/21/2020, 12:32 PM
Updated 02/21/2020, 12:32 PM
Trump: U.S. may give farmers more aid until trade deals 'kick in'

By Makini Brice

WASHINGTON (Reuters) - The United States may give American farmers additional money until trade deals with China, Mexico, Canada and other countries fully go into effect, President Donald Trump said on Friday.

"If our formally targeted farmers need additional aid until such time as the trade deals with China, Mexico, Canada and others fully kick in, that aid will be provided by the federal government," Trump wrote in a Twitter post entirely in capital letters.

It was not immediately clear how large the aid package would be or how long it would last.

The Trump administration set aside a $16 billion aid package to farmers in 2019, and $12 billion a year earlier. In January, Agriculture Secretary Sonny Perdue said farmers should not expect another bailout package in 2020.

Trump is seeking re-election in the Nov. 3 presidential election. Farmers form a key part of his electoral base, but they have been badly bruised by low commodity prices and Trump's tit-for-tat tariff dispute with China.

The White House, the Department of Agriculture and the U.S. Trade Representative's office all declined to comment.

Last month, Trump signed a trade deal with Canada and Mexico into law, along with a separate Phase 1 accord with China that went into effect in mid-February.

Canada has not yet ratified the deal and experts had been skeptical that China, which had pledged to increase its purchases of U.S. goods by $200 billion over two years, would be able to meet the goal even before a coronavirus outbreak hit the country's imports and exports.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Looks to me like Trump fits right in with the socialist far-left Dems.
I'm a farmer and Hate subsidies. Even with my small gov't check I make less in 1 year than Jamie Dimon makes in 3 "working hours" or an oil exec in 4 hours and that industry has been getting getting big subsidies continuously for the last 90 plus years, and the banks all got bailed out in the trillions in the one year in the last 20 they didn't clear tens of billions in profit. Shows you that true capitalism doesn't work when the ever present greed factor is involved.
Not being an American you should stand up for what you believe in your homeland. I feel like this guy has made change for the better having judges who stand up for the constitution, which you should read sometime and not ruling from the bench with a leftist, opinionated ruling.
Spoken like a true Socialist Democrat. You amd Trump should be working the phones Bernie Sanders or Elizabeth Warren.
You should read something other that Alt-Right propaganda. Maybe a good economics book that shows you that you are supporting an economic Socialist named Trump.
...and all the uhc/optum employees too since they’ll be privatising theNHS
This guy is as liberal a spender as when he was a Dem. gotta love socialist hypocracy.
If you walk like a duck... This goes spending on stuff we need. Since the globalist dems continue to resist, the ONLY way to get 'Em to agree is give Them money for their socialist, fascist, welfare politics !Get a grip man, read all about it -
The Donald means, LET'EM EAT CAKE. Yes, Mademoiselle !
Welfare Line !
A cup of tea please?
when will it kick in guys?
Don't forget Thabo, there's a slight epidemic that had distracted from prize-
Socialism at its finest!
A simple statement.y a y bernie
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.