The humble soybean. I remember riding my bike through fields of them during high school. Little did I know that they would one day be at the center of a global trade war.
In the face of those economic losses, the Trump administration has put forth a plan to subsidize farmers with $12 billion by resurrecting a New Deal-era crop insurance program. Some of those payments have already been made, but there’s already indications that it won’t be enough to cover all farmers—to say nothing of all the other industries negatively affected by the tariffs, some of which are also making noise about bailouts.
Bailouts are bad and are paid for by taxpayers. Tariffs are taxes.