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U.S. unveils US$12 bil. bailout for farmers

2018-07-25 31 Dailymotion

The Trump administration has unveiled a 12 billion-dollar plan to help American farmers hit by President Trump's widening trade war with other countries. <br /> Agriculture Secretary Sonny Perdue said Tuesday the emergency aid package will help mitigate losses incurred by what he called "illegal tariffs" on American agriculture exports. <br />Several countries have imposed heavy duties on U.S. goods in retaliation to President Trump's series of tariffs. <br />These retaliatory tariffs have especially taken its toll on soybean growers. <br />The 12 billion-dollar bailout plan includes providing subsidies to farmers and buying unsold crop. <br /> However, the plan was denounced by some Republicans who said it will distort the agriculture industry by damaging long-term demand. <br />

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