US farmers back Donald Trump in country’s trade war with China: A large number of American farmers have backed US President Donald Trump in the country’s trade war with China. The farmers called Trump’s $16 billion in federal aid to American farmers a godsend. While Democrats demanded that the aid be blocked and 2020 Democrats running for president criticized the move, the US Department of Agriculture (USDA) defended the President’s program.
On November 17, Trump had announced that American farmers would receive another major round of cash, with compliments of the China tariffs, prior to Thanksgiving. He said smaller farms and farmers will be big beneficiaries. He informed Americans about the resumption of the US-China trade deal and the success of the Japan deal.
Appreciating Trump’s move, farmers said Trump’s financial assistance was vital for their livelihoods. Farm Bureau President Zippy Duvall said the latest round of trade aid to farmers provided critical support while a further delay in reaching an agreement would spell trouble for farmers, who are already staring at bankruptcy. Grant Kimberley, who is a director of market development at Iowa Soybean Association, said the farmers have gone too far and now they want a good deal.
Critics, however, charged that Trump is redistributing American taxpayers’ funds to farmers to buy them off since he destroyed their export markets with his trade war with China. They said American farmers don’t want welfare, rather they want to sell their products fairly.
The tariff deadline is rapidly approaching and both the US and China will levy additional tariffs on each other’s exports from December 15 onwards. Reports said around US$160 billion of Chinese goods will face 15 per cent tariff on arrival at US ports while China will impose 5 and 10 per cent tariffs on agricultural products, chemicals, car parts, and pharmaceutical products imported from the US.
Here is the timeline of US-China trade-war negotiations:
Meanwhile, China has signaled that Beijing is ready to hold talks to conclude on a trade deal as soon as possible. Speaking on the trade issue, China’s assistant minister of commerce Ren Hongbin said both the countries benefit from cooperation and both get hurt from conflict.
Several farmers in Pennsylvania have said the US-China trade war is a bad idea and no good for their state. Due to the ongoing trade war between the US and China, the global economy is witnessing a temporary slowdown with wide-ranging repercussions all over Europe and Asia.