Trump’s Self-Bailout

With election year blowback over his trade wars, President Trump is proposing an aid package for American farmers to offset their losses from his trade policy, the Washington Post reports:

The U.S. Agriculture Department on Tuesday plans to announce a $12 billion package of emergency aid for farmers caught in the midst of President Trump’s escalating trade war, two people briefed on the plan said, the latest sign that growing tensions between the United States and other countries will not end soon. …

The aid package is expected to target soybean farmers, dairy farmers, and pork producers, among others. White House officials hope it will quiet some of the unease from farm groups, but the new plan could revive debates about taxpayer-funded bailouts and the degree to which Trump’s trade strategy is leading to unforeseen costs.

Politically targeted relief to counter the market effects of a trade policy that was ill-advised, poorly thought out, and turned out to boomerang to Trump’s own political disadvantage. It’s enough to make free market Republicans of old spin in their graves.

Masthead Masthead
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