Trump Gives Farmers $16 Billion in Aid Amid Prolonged China Trade War

[TheCount]

WASHINGTON — The United States and China are digging in for a prolonged trade war, with the Trump administration unveiling a new $16 billion bailout for farmers hurt by Beijing’s tariffs on Thursday and more companies saying they are redirecting supply chains away from China.

Global markets tumbled as investors began coming to terms with the idea that President Trump’s trade war is here to stay. Benchmark indexes in China, Germany, France and the United States all dropped (https://www.nytimes.com/2019/05/23/business/shares-stock-markets.html?module=inline). American crude oil prices were down roughly 5 percent, amid growing concern that the ongoing trade war would start to drag on global economic demand. The yield on the 10-year Treasury note fell to its lowest level this year, in a sign investors were pricing in lower levels of growth and inflation.

Hopes for a quick resolution to the China trade fight faded further this week, with Treasury Secretary Steven Mnuchin saying on Wednesday that no additional meetings with Beijing are scheduled and that he is encouraging American firms to reorient their supply chains and source their products elsewhere.

China’s president Xi Jinping this week called for the Chinese people (https://www.nytimes.com/2019/05/21/world/asia/xi-jinping-china-trade.html?module=inline) to begin a modern “long march,” invoking a time of hardship from the country’s history as it braces for a protracted trade war with the United States.


https://www.nytimes.com/2019/05/23/us/politics/farm-aid-package.html

[donnay]

That 16 billion is from the money collected from tariffs.

[NorthCarolinaLiberty]

https://www.nytimes.com/2019/05/2/us/politics/farm-aid-package.html


You voted Obama 2x. You voted Hilary 2016. Right so far?

So why are you posting this? Can you please explain the purpose of your thread? Thanks!

[enhanced_deficit]

That 16 billion is from the money collected from tariffs.

Even if tariffs are a tax on public consumers buying things, such redistribution of wealth techincally is not socialism.

Free markets are overrated, some level of redistriubtion of wealth to improve social welfare of disadvantaged segments of society is inevitable.

[TheCount]

That 16 billion is from the money collected from tariffs.

Welfare is from the money collected from income.

[oyarde]

I do not know anyone getting money and I view that as a good thing . Title is wrong anyway . Probably no money going to farmers . Maybe an amount going to some large corporations that file to receive it . Corporations or farmers have nothing to do with treasury rates . Article really does not make sense . Looks like something you would see in a NY or DC paper .

[donnay]

Welfare is from the money collected from income.

It's not welfare when Trump is trying to level the playing field. :rolleyes:

[Brian4Liberty]

Central planning. Market distortion. Crony corporatism. Fiscal irresponsibility.

What’s not to like? /s

[Brian4Liberty]

I do not know anyone getting money and I view that as a good thing . Title is wrong anyway . Probably no money going to farmers . Maybe an amount going to some large corporations that file to receive it . Corporations or farmers have nothing to do with treasury rates . Article really does not make sense . Looks like something you would see in a NY or DC paper .

My assumption is that small farmers won’t see a penny of this. It’s crony corporatism.

[Brian4Liberty]

Also included in this plan is year round E15 ethanol fuel. Wonderful. Another market manipulation fatwa.

Media isn’t reporting this aspect, as it could be seen as a positive by corn farmers and global warming cultists.


Last fall, Trump visited Iowa and delivered a victory to corn farmers and biofuel producers when he said he signed a memo telling the U.S. Environmental Protection Agency to lift summertime fueling restrictions on E15 gasoline, which contains 15% ethanol. The corn-based fuel currently accounts for 10% of U.S. gasoline consumption and higher blends are restricted during the summer months in some areas.

Since then, agricultural groups have been pressing EPA to meet the June 1 deadline when the higher blends are restricted. Midwestern farmers, who helped propel Trump to the White House, have suffered a loss of sales due to Trump’s trade war with China that has resulted in tariffs on American agricultural products.
...
https://www.bloomberg.com/news/articles/2019-05-21/possible-trump-visit-to-iowa-ethanol-plant-signals-win-for-e15

[RonZeplin]

It's not welfare when Trump is trying to level the playing field. :rolleyes:

Wealth Spread field grading, aka socialism.

https://1.bp.blogspot.com/-ojRpM6scKmk/V5I4BV1IWBI/AAAAAAAAAmY/KVw3JbcJCJwZMjvYRzd28lu7idQMrhb5ACLcB/s1600/TRUMP_TROTSKY_STALIN.jpg

[Swordsmyth]

I don't support more welfare for BigAg but Trump fighting back in the trade war and countering ChiCom interference in the market place is good.

[oyarde]

My assumption is that small farmers won’t see a penny of this. It’s crony corporatism.

That is the standard . We would never take any of it anyway . Ever .

[juleswin]

That is the standard . We would never take any of it anyway . Ever .

What is your point exactly? are you saying that because non of the farmers you know are not getting the money, this govt program is OK? Personal, I wish people I know are getting this money. Rather then than some well connected, well to do agrobusiness merchant.

[Swordsmyth]

What is your point exactly? are you saying that because non of the farmers you know are not getting the money, this govt program is OK? Personal, I wish people I know are getting this money. Rather then than some well connected, well to do agrobusiness merchant.

That's an incredible twisting of what Oyarde said.

[oyarde]

What is your point exactly? are you saying that because non of the farmers you know are not getting the money, this govt program is OK? Personal, I wish people I know are getting this money. Rather then than some well connected, well to do agrobusiness merchant.

I am opposed to the entire USDA . I would support eliminating it so , no I do not support these payments , my point is this , anyone getting it does not need it and if they do need it they were over extended dangerously anyway and will fail in the future.

[juleswin]

I am opposed to the entire USDA . I would support eliminating it so , no I do not support these payments , my point is this , anyone getting it does not need it and if they do need it they were over extended dangerously anyway and will fail in the future.

Family farms are actually having a hard time here in Nebraska, I have read a few stories of them complaining about the china tarrif along with the bad growing weather. Maybe not all need it but there are farms out there that need this govt help to stay above water.

[juleswin]

That's an incredible twisting of what Oyarde said.

Yea, that is what I got from his post. The way he responded, he sounded very indifferent about the corporate welfare like it was no big deal.

[oyarde]

Family farms are actually having a hard time here in Nebraska, I have read a few stories of them complaining about the china tarrif along with the bad growing weather. Maybe not all need it but there are farms out there that need this govt help to stay above water.

All I can tell you is it is my opinion if you need it you were doing something wrong . I wish them well .Preferably without tax dollars.

[oyarde]

That's an incredible twisting of what Oyarde said.

I blame Danke

[oyarde]

Yea, that is what I got from his post. The way he responded, he sounded very indifferent about the corporate welfare like it was no big deal.

Really I guess I am indifferent . I have opposed the entire USDA longer than most people on this board have been alive . I cannot tell you I really believe all of these payments are being made . The figure could be entirely bogus and probably is .

[Swordsmyth]

I blame Danke
Yes, he should have banned Jules long ago.

[oyarde]

In 1839 Congress authorized an agricultural division within the Dept of patents with a budget of 1K per year. Currently somewhere over 141 billion dollar budget .

[oyarde]

Over 80 percent of that 142 Billion goes to food stamps . Which should be eliminated .

[ATruepatriot]

Yes, he should have banned Jules long ago.

I wouldn't support that... Confusion is not malice. I strongly personally believe everyone should have a right of opinion.

[juleswin]

Really I guess I am indifferent . I have opposed the entire USDA longer than most people on this board have been alive . I cannot tell you I really believe all of these payments are being made . The figure could be entirely bogus and probably is .

I really don't know why u would say that. If govt says they are spending 16b, I dunno why anyone would doubt them. I for one believe them.

[ATruepatriot]

Over 80 percent of that 142 Billion goes to food stamps . Which should be eliminated .

And Administration, Retirement, Etc. These will come first as always and there will not be much left.

[oyarde]

The only Hoosier I have ever dined with taking tax dollars from the govt was Senator Dick Lugar , former mayor of Indianapolis and corporate farmer. He died in Virginia . In 2012 I worked relentlessly in the primary to have him removed.

[Swordsmyth]

I wouldn't support that... Confusion is not malice. I strongly personally believe everyone should have a right of opinion.
It's a joke, Danke is not a mod and can't ban anyone.
Oyarde has a running gag of demanding that Danke do something about all sorts of things that are beyond his control.

[Swordsmyth]

The only Hoosier I have ever dined with taking tax dollars from the govt was Senator Dick Lugar , former mayor of Indianapolis and corporate farmer. He died in Virginia . In 2012 I worked relentlessly in the primary to have him removed.
He stuck you with the check?

[oyarde]

I really don't know why u would say that. If govt says they are spending 16b, I dunno why anyone would doubt them. I for one believe them.

These are guesses at best . They tell you you have to such date to sign up ( this yr was Mid May ) , then they use whatever metrics to determine they may give you 00.04 cents per acre you had in beans or whatever . The USDA says they have paid 8.3 billion as of end of April to over 600k applicants so , yeah no reason to believe a bogus NY times article . The MFP , Market Facilitation Program covers hogs , fresh cherries , cotton , wheat , almonds, sorghum , dairy and corn . These can be signed up for through what they call FSA which is the USDA Farm Service Agency . The entire USDA is a scam and needs eliminated .

[oyarde]

He stuck you with the check?
My Dad picked up the check probably , he was still living at the time .