Trump: Farmers will be ‘biggest beneficiary’ of trade war
President Trump on Tuesday promised supporters that farmers will be the “biggest beneficiary” of his escalating trade disputes with numerous countries, hours after it was reported his administration will provide financial aid to farmers negatively affected by tariffs.
Trump, speaking at the Veterans of Foreign Wars National Convention in Kansas City, Mo., assured supporters that the steep tariffs his administration has slapped on imports from Canada, Mexico, China and the European Union will pay off in the end.
He lamented that trade deals the U.S. had with other countries have long been “one-sided,” and cost the U.S. billions of dollars.
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“We’ve got to fight it. Nobody else fought it,” Trump said.
“Not any longer, folks. We’re making tremendous progress,” he continued. “They don’t want to have those tariffs put on them. They’re all coming to see us.”
“And the farmers will be the biggest beneficiary. Watch. We’re opening up markets. You watch what’s going to happen. Just be a little patient,” he said.
The Trump administration, which has been talking about providing emergency aid to the agriculture industry, could announce as soon as Tuesday that it will offer upward of $12 billion to calm rising concerns about the trade war that could hit U.S. farmers hardest.
Agriculture groups and lawmakers have been calling on his administration to stop imposing the tariffs because their products — from pork to soybeans — are being targeted for retaliation by top U.S. trading partners. Some groups have said they will lose tens of millions of dollars due to tariffs on their exports.
After the Trump administration levied steel and aluminum tariffs on Canada, Mexico and the European Union, those countries responded with retaliatory tariffs on U.S. goods. The U.S. and China have hit each other with billions in tariffs, as well.
While scores of Republicans and Democrats have warned that the tariffs will ultimately harm American workers, Trump on Tuesday suggested the opposition was a result of biased reporting.
“Just stick with us. Don’t believe the crap you see from these people, the fake news,” he said, pointing at the press at his Kansas City event.
Trump has said on multiple occasions that leaders from other nations have come to him asking for improved trade deals. However, no such deals have been announced since tariffs were implemented.
The president is set to meet with European Commission President Jean-Claude Juncker on Wednesday, where the two men are expected to discuss trade.