“Short-term, stair-stepped subsidies are a poor remedy for trade,” said Iowa Soybean Association President Lindsay Greiner in a statement. “They stimulate production but not sales and therefore do little to undo the long-term log jam caused by not selling soybeans to destinations like China, the
President Donald Trump announced today a $16 billion bailout for farmers’ affected by his ongoing trade war with China, but some large farm groups said these subsidies are merely a band-aid and will not help to fix the underlying problem.
As part of his war with China, President Trump increased tariffs to 25 percent on $250 billion worth of Chinese imports. Beijing retaliated by adding taxes to U.S.-grown farm commodities like soybeans, hurting farmers around the country. “This is becoming more and more like a Soviet type of economy here: Commissars deciding who’s going to be granted waivers, commissars in the administration figuring out how they’re going to sprinkle around benefits,” said Senator Ron Johnson, a Republican. “I’m very exasperated. This is serious.”
Republican Senator John Thune told Politico at the time that “taxpayers are going to be asked to initial checks to farmers in lieu of having a trade policy that actually opens and expands more markets. There isn’t anything about this that anybody should like.”Grenier said that soybean farmers were growing tired of the president’s promises, and wanted action.
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