Washington – President Donald Trump will approve a second aid package, this time of 16,000 million dollars, to farmers and farmers affected by the trade war with China, said Agriculture Secretary Sonny Purdue.
“China is going to pay these 16,000 million dollars through tariffs, it is a transfer that is entering (…) as we did last year, but in fact the money from the tariffs that we are receiving, the income that we are receiving , is what the president will finance the farmers that have been damaged by these tariff reprisals, “Purdue told Fox.
Trump plans to meet with representatives of farmers and farmers this afternoon to discuss the trade war and discuss this second assistance package.
In 2018, the Government announced a similar assistance program for 12,000 million dollars for the agricultural and livestock sector.
According to Purdue, part of the 16,000 million dollars will be used “for access to other markets” and if China decides not to comply, then these products will be sold elsewhere “.
Among these markets, the Secretary of Agriculture cited India, the Philippines, Malaysia and Thailand.
As an example of the effects of this tariff war, soy exports to China have fallen more than 80% in the past year, and Beijing has gone on to buy soybeans from Brazil and Argentina.
The trade war between Washington and Beijing intensified earlier this month when the government raised tariffs for several Chinese imports of more than 5,000 products, valued at around 200 billion dollars, from a 10% tax to a 25% tax.
Trump, which was critical of Beijing’s negotiating attitude, also threatened tariffs similar to the rest of China’s imports, worth 325 billion dollars, if it does not reach a trade agreement with Beijing.
For its part, China announced that it would impose tariffs of 25% on goods imported from the US as of June 1. worth 60,000 million dollars.
In 2018, the United States exported goods worth 120,000 million dollars to China, while imports of the Asian giant amounted to 540,000 million dollars. (EFE)