Trump prepares help of up to $ 14 billion for farmers affected by trade war, vehicles say

‘It was positive,’ says Haddad about Lula’s conversation with Trump for video conferencing US President Donald Trump intends to launch a help package to US farmers to help them survive the trade war with China and other countries. According to CNN, the US government is expected to release between $ 10 billion and $ 14 billion to compensate for sector losses. The focus would be soy producers, according to the Associated Press. They suffered a significant impact after China suspendes the purchase of the American grain in retaliation for Trump’s tariffs. Since April, China has applied 20% tariffs on US soy. The last purchase was made in May, and nothing of the current crop, which began in September, was imported. Soy is the main food exported by the US, according to the Associated Press, with about 14% of the total. China is the largest customer and has bought 25% in recent years. Read more ‘shutdown’ in the Trump government worsens a scenario already difficult for US farmers Brazil buys more wine from Chile and compensates for the impact of the country’s neighboring country production in Indiana, in the United States AP Photo/Michael President promised the treasure secretary, Scott Bessent, told CNBC last Thursday that there would be news about “substantial support” to “substantial” Farmers, especially soy producers, this Tuesday (6). The day before, Trump published on his social network criticism of China and promised support for producers. “Soy farmers in our country are being harmed because China, for reasons of ‘negotiation’, is not buying,” Trump wrote. “We made so much money from tariffs that we will use a small part of this money to help our farmers,” he added. Trump also said he will have a meeting in the coming weeks with Chinese President Xi Jinping. “Soy will be one of the main themes of the conversation,” he said. The meeting is expected to take place during the Asia-Pacific economic cooperation summit, scheduled for the end of October in South Korea. Farmers charge an agreement according to the US Association of Soy, the US produced $ 60.7 billion in soy in the 2022-2023 cycle, and more than half was exported. Illinois leads production, followed by states such as Iowa, Nebraska and Minnesota. Caleb Ragland, a farmer of Kentucky and president of the American soy association, told AP that the time for an agreement is running out. According to him, China has already bought soy from Brazil and Argentina for delivery by December, and if there is no agreement, the Asian country can completely ignore the current US crop. “If they have a few more months, they will buy the new crop from Brazil and Argentina and will put us aside, if we are not careful,” said Ragland. During his first term, Trump also crashed a trade war with China. In 2019, it granted more than $ 22 billion in help to farmers. The following year, the amount reached nearly $ 46 billion, including support due to the pandemic.

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