Trump Makes Big Promise of 'Cash' for Farmers Before Thanksgiving
As Trump administration officials hinted at progress on trade talks with China, President Donald Trump announced good news for America’s farmers.
“Our great Farmers will receive another major round of ‘cash,’ compliments of China Tariffs, prior to Thanksgiving,” the president tweeted Sunday. “The smaller farms and farmers will be big beneficiaries. In the meantime, and as you may have noticed, China is starting to buy big again. Japan deal DONE. Enjoy!”
Our great Farmers will recieve another major round of “cash,” compliments of China Tariffs, prior to Thanksgiving. The smaller farms and farmers will be big beneficiaries. In the meantime, and as you may have noticed, China is starting to buy big again. Japan deal DONE. Enjoy!
— Donald J. Trump (@realDonaldTrump) November 17, 2019
Agriculture Secretary Sonny Perdue said the payments “along with already provided disaster assistance, will give farmers, who have had a tough year due to unfair trade retaliation and natural disasters, much needed funds in time for Thanksgiving,” Politico reported
The payments are designed to help farmers make up for losses incurred due to the trade showdown with China. The first group of payments for 2019 covered 50 percent of a farmer’s production. The new payments cover an additional 25 percent.
Meanwhile, there were encouraging signs that China and the U.S. might be close to resolving trade tensions that saw Trump slap tariffs on Chinese products, after which China did the same to American goods.
White House Economic Advisor Larry Kudlow on Friday said a deal was getting closer, CNBC reported.
“We’re getting close. The mood music is pretty good, and that has not always been so in these things,” he said.
During a Friday interview on the Fox Business Network, Commerce Secretary Wilbur Ross was also upbeat.
Ross said the agreement was likely to be a multi-phase deal, and that the first priority was hammering down a deal for $40 million to $50 million in agriculture purchases, making sure there are no “escape hatches to the commitment.”
“The important thing is to make sure that the deal is what we think it is,” Ross added. “The devil is always in the details. And we’re down to the last details now.”
If talks fall apart, a new round of tariffs on Chinese products would take effect on Dec. 15.
Last week, the U.S. and China reached a deal that allows poultry products into China, according to a statement from the USDA.
“After being shut out of the market for years, U.S. poultry producers and exporters welcome the reopening of China’s market to their products,” Perdue said.
“America’s producers are the most productive in the world and it is critical they be able to sell their bounty to consumers in other parts of the globe. We will continue our work to expand market access in important markets like China as well as other countries, to support our producers and U.S. jobs.”
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