More failures in Trump trade policies with vague promises of continued discussion as he demonstrates again a now familiar cluelessness about the US economy. Adding $15 billion in farm subsidies to a $12 billion program of subsidies that dated from the Great Depression makes a farce of whatever Trumpian greatness was promised to ‘Great Patriot Farmers’.
….We will then spend (match or better) the money that China may no longer be spending with our Great Patriot Farmers (Agriculture), which is a small percentage of total Tariffs received, and distribute the food to starving people in nations around the world! GREAT! #MAGA
— Donald J. Trump (@realDonaldTrump) May 12, 2019
Individual-1 continues to loot parts of the budget like $1.5 billion from DoD to support his ‘wall’ fiasco, whose cost of border troop deployment will reach $1 billion soon.
President Donald Trump is seeking an additional $15 billion in U.S. subsidies in an effort to protect farmers from the devastating impact of his trade war with China. That’s on top of $12 billion already earmarked for the farmers to help them weather the fallout.
That would be an additional bill for U.S. taxpayers already shouldering the cost of increased tariffs in the form of higher costs for products and parts from China.
“Progress toward a trade deal nearly collapsed over the weekend, with officials returning to Beijing empty-handed and the Trump administration raising tariffs on $200 billion worth of Chinese imports”
- Goldman Sachs said the cost of tariffs imposed by President Donald Trump last year against Chinese goods has fallen “entirely” on American businesses and households, with a greater impact on consumer prices than previously expected.
- The bank said in a note that the trade war’s impact on U.S. consumer prices is now higher than previously expected, partly because Chinese exporters have not lowered their prices to better compete in the US market
- “One might have expected that Chinese exporters of tariff-affected goods would have to lower their prices somewhat to compete in the US market, sharing in the cost of the tariffs,” Goldman said.
— Don Carr (@donpcarr) February 14, 2019
The European Commission published on Wednesday a list of $20 billion (£15.4 billion) worth of U.S. imports it could hit with tariffs in a transatlantic aircraft subsidy dispute.
"EU issues $20 billion list of U.S. imports for tariffs in Boeing case" https://t.co/XyVEupi6uW
— kristoferkawas (@kristoferkawas) April 17, 2019