UPDATE 1-Trump says U.S. farmers to get $15 bln in aid amid China trade spat

UPDATE 1-Trump says U.S. farmers to get $15 bln in aid amid China trade spat

President Donald Trump said on Monday that his administration was planning to provide about $15 billion in aid to help U.S. farmers whose products may be targeted with tariffs by China amid a deepening trade spat.

"We're going to take the highest year, the biggest purchase that China has ever made with our farmers, which is about $15 billion, and do something reciprocal to our farmers so our farmers can do well," Trump told reporters at the White House. He did not provide any more details on what kind of an aid package it would be.

U.S. Agriculture Secretary Sonny Perdue said on Friday that Trump had asked him to create a plan to help American farmers cope with the heavy impact of the U.S.-China trade war on agriculture. A new aid program would be the second round of assistance for farmers, after the Department of Agriculture's $12 billion plan last year to compensate for lower prices for farm goods and lost sales stemming from trade disputes with China and other nations.

On Monday, China said it would impose higher tariffs on a range of U.S. goods including frozen vegetables and liquefied natural gas, striking back in its trade war with Washington after Trump warned it not to. (Reporting by Jeff Mason; Writing by Tim Ahmann and Humeyra Pamuk; Editing by Doina Chiacu and Sandra Maler)

Give Feedback

Use this form for editorial or site feedback. We usually reply within 2 to 3 working days.

By submitting, you agree that we may use your email address to respond.