White House explores new farmer bailout plan as US-China trade war heats up

WASHINGTON — White House officials are scrambling to come up with a new bailout plan to placate furious farmers after President Donald Trump’s initial idea of donating unused crops to poor countries came under scrutiny, people briefed on the planning said.

Amid intense political pressure from Senate Republicans, White House officials are eyeing different ways to advance funds to agriculture companies that have complained they are being caught in the middle of the escalating trade battle with China.

Senate Finance Committee Chairman Chuck Grassley, R-Iowa, said he planned to write a letter to Trump to explain the concerns of farmers because he felt the argument he had repeatedly made to the president in person was not registering.

“I’m not sure if you talk to him face to face he hears everything you say,” said Grassley, who has emerged as one of Trump’s chief critics on the administration’s trade approach in recent weeks.

Pressed for details of the plan on Monday, Trump told reporters, “It’s being devised right now.”

Trump wrote on Twitter that farmers would be “one of the biggest beneficiaries” of his trade policies. He said that would come either from China buying more U.S. products or U.S. government making up the difference.https://www.dailyherald.com/business/20190514/white-house-explores-new-farmer-bailout-plan-as-us-china-trade-war-heats-up

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.