AGRICULTURE/TARIFFS/TRADE WAR/TRUMP AS PRESIDENT: “The Trump administration on Tuesday [7-24-18] announced an emergency-aid package of $12 billion for farmers amid growing concerns that the U.S. agricultural sector could suffer from President Donald Trump’s escalating trade dispute with some of America’s largest trading partners. The trade rift between the U.S. and some of its closest allies has prompted retaliations and legal actions following President Trump’s decision earlier this year to impose tariffs of 10% on aluminum imports and 25% on steel imports from Canada, Mexico and the EU. U.S. Agriculture Secretary Sonny Perdue said Tuesday the ‘one-time’ program would help farmers meet losses resulting from ‘illegal retaliation’ to U.S. tariffs, and wouldn’t require congressional approval…A number of lawmakers, including many from Mr. Trump’s Republican Party, dismissed the plan as a bailout and called for long-term solutions that benefit American farmers and honor longstanding trade relationships. Mr. Trump has also levied tariffs on $34 billion in imports of electronic goods, machinery and other products from China, with another $16 billion expected in the next few weeks. He has also said he would assess tariffs on a further $200 billion on a range of consumer products.”
–Vivian Salama, “Trump Administration Plans Up to $12 Billion in Farm Aid to Ease Concerns Over Trade Disputes,” The Wall Street Journal, July 24, 2018 2:55 pm