Trump floats more aid to farmers if overseas purchases lag

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WASHINGTON (BLOOMBERG) - President Donald Trump raised the possibility of delivering more aid to American farmers as promised purchases from trade deals with China and other countries have yet to materialise.. Read more at straitstimes.com.

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WASHINGTON (BLOOMBERG) - President Donald Trump raised the possibility of delivering more aid to American farmers as promised purchases from trade deals with China and other countries have yet to materialise.

On Friday night, Agriculture Secretary Sonny Perdue, said in a statement that"the president's tweet today shows that he stands prepared to do another round" of aid,"if necessary.""I hope we can show that a third round is not needed for 2020 - we still believe farmers want trade rather than aid," he added.

The Trump administration doled out US$16 billion in 2019 and US$12 billion in 2018 to help farmers who found themselves in the cross-hairs of his trade spat with Beijing. The farm rescue is more than twice as expensive as the 2009 bailout of Detroit's Big Three automakers, which cost taxpayers US$12 billion.

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