Sen. Pat Toomey (R-Pa.), a leading member of the Senate Finance Committee, is warning that President Trump’s plan to provide $15 billion in assistance to farmers hurt by the escalating trade war with China is “very bad policy.”
“It’s a very bad policy,” he told a group of reporters in his office. “Think about what we’re doing. We’re inviting this retaliation that denies our farmers — the most productive farmers on the planet — the opportunity to sell their products overseas and then we say, ‘Don’t worry, we’ll have taxpayers send you some checks and make it OK.’ That’s a very bad approach.”
Trump on Monday announced his administration will provide $15 billion in assistance to farmers hurt by the escalating trade war with China, which this week increased tariffs on $60 billion in American exports.
China announced the tariffs, which will target beef, honey, rice, corn, wheat flour, spinach, peas, beans, lentils, peanut oil, soybean oil, sunflower oil and other agricultural products, in retaliation for the Trump administration raising tariffs last week on $200 billion worth of Chinese goods.
Read more at The Hill.