No more bailouts. Period.
Trade wars create pain. They warp the economy. Agribusiness already gets all sorts of subsidies secured by lobbyists and paid for by you and me.
But Trump, who has attacked Harley-Davidson for plans to move some production to its overseas plants to avoid retaliatory European tariffs, is looking to save “my farmers” from the trade war he launched. Rural support was critical to his presidential victory. Unhappy farmers could spell trouble for midterm elections.
Doubtful, but possible.
The Trump administration officially levied tariffs on $34 billion worth of Chinese products at the start of a major trade battle predicted to exact significant costs on consumers and businesses. China was expected to announce its own comparable tariffs on $34 billion of U.S. goods Friday. Chinese officials had said they would not announce the tariffs until after the U.S. did so. The Chinese tariffs, including a 25 percent charge on soybeans, are expected to hit U.S. farmers particularly hard, since the country currently buys nearly two-thirds of the soybeans exported by U.S. farmers.
Giving new life to ANYTHING FDR did is a mistake.