'It's a good time to be a farmer, we're going to make sure of that,' President Trump says, announcing $16 billion in aid to farmers as the trade war with China continues
US farmers have been among the hardest hit by the escalating trade war between the two countries, and both sides are bracing for additional pain resulting from the latest volley of tariffs announced earlier this month. Perdue said President Donald Trump approved the farmer aid to undermine China's efforts to retaliate against US tariffs."Well, President Trump feels what they're trying to do is really outlast him and that's not gonna work.
Read MoreThe tariffs will instead be paid for by companies importing goods into the US and are often passed on to US consumers in the form of price hikes, a reality acknowledged by Trump's own top White House economic adviser Larry Kudlow. Trump last year already promised farmers a $12 billion aid package to help mitigate the first wave of Chinese retaliatory measures after Trump slapped tariffs on Chinese imports.
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