Home / General / Trump to offer bailout to a small minority of the people damaged by his tariffs

Trump to offer bailout to a small minority of the people damaged by his tariffs

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There’s a club and the overwhelming likelihood is that you’re not in it:

President Donald Trump announced a $12 billion farm aid package Monday — a boost to farmers who have struggled to sell their crops while getting hit by rising costs after the president raised tariffs on China as part of a broader trade war.

He unveiled the plan Monday afternoon at a White House roundtable with Agriculture Secretary Brooke Rollins, lawmakers from farm states, and farmers who thanked him for the help.

“With this bridge payment, we’ll be able to farm another year,” Iowa farmer Cordt Holub told Trump during the event.

Rollins put the immediate value of the program at $11 billion — money that the White House said will offer one-time payments to row-crop farmers. Another $1 billion will be put aside for specialty crops as the administration works to better understand the circumstances for those farmers, Rollins said. The aid will move by the end of February, she said.

“We looked at how they were hurt, to what extent they were hurt,” Trump said, explaining how the administration came up with the size of the package. Trump said the money for the program will come from tariff revenue.

The claim that the bailout will come from tariff revenue is not true, actually.

Anyway, just not doing things with huge negative consequences strikes me as a better idea than making a small favored minority of people closer to whole, but then I’m not an authoritarian.

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