Trump Says U.S. Will Purchase Crops to Offset China Losses

Politics
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https://www.bloomberg.com/news/articles/2019-05-10/trump-says-u-s-will-boost-crop-purchases-to-offset-china-losses?srnd=premium

“Trump said on Twitter on Friday that the U.S. will use its money from the tariffs to buy American agricultural products “in larger amounts than China ever did” and send it to “poor & starving countries” for humanitarian aid. The president indicated potential purchases of $15 billion from farmers. Soybean and grain futures held mostly steady after the announcements, while industry groups opposed Trump’s additional U.S. tariffs on China.”

Also…

"The soybean group joined the National Corn Growers Association and the National Association of Wheat Growers in a joint statement.

“These additional tariffs will continue to put a strain on our export markets and threaten many decades worth of market development,” Ben Scholz, a Texas wheat farmer and president of the wheat group, said in the statement."

I think the president hears the farmers and is going to try to bail them out even more (using taxpayer money) from the strain caused by Trump policies.

Is kind of what he’s done his whole life isn’t it? Cause a lot of financial stress for other people.

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He’s going to print more money to give to farmers for policies that he created.

8 Likes
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Banks learned to NEVER give him money. Taxpayers haven’t learned that lesson yet.

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I agree with Trump dependence on a country like China is not smart, but his way to combat it has been awful.

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No, he’s going to raise our taxes.

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How would you do it?

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Isn’t that what you want?

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He did raise taxes…they’re just called tariffs in this case.
And we (USA) are paying them, not the Chinese.

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no clue why I’m not Prime Minster.

Canada is also in a heated battle with China so I welcome this move even though it will greatly hurt U.S farmers.

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This A joke right?

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Actually the Chinese companies DO pay the tarrif to the US government. Then US costomers pay more to the chinese businesses. Or if they get too expensive, then they start buying local pruducts.

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The Chinese companies are not the ones importing products.

American companies buy stuff in China then import it to sell.

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It’s a fee to bring about change. Personally I would like to see a ban on any product from china that they have stolen intelectual property from.

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And that fee is paid by American companies importing product from China.

Factory in China sell 1,000,000 slippers to American company.

American company import those slippers to the U.S. (This is where the U.S government taxes and tariff are applied)

American company sell those slippers to retail store.

The root goal of tariff is to make lower the profit for American companies so they buy local produced goods over imports.

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Yeah!!! Finally Trump had the Courage to use our tax$$$ for buying American!!! Now lets send that food to china and other countries so farmers can finally be great again like they were in the 50’s 60’s 70’s and beyond Trump will win relection cause of this!!!

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No, the American importers pay the tarrifs…

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Uh…no.

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That’s simply not true. It is the importers that pay tariffs. US companies, not China.

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Which is inline with the point of tariff to lower the profit margin of importers to make buying domestic more appealing.

but the real question is low skill manufacturing something America can compete in.

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That’s not how imports work…