U.S. Chamber: Trade Aid for All Could Cost $39 Billion
Providing aid to industries impacted by negative trade policy could cost the nation $39 billion if offered to all industries, according to new data by the U.S. Chamber of Commerce.
Farmers are expected to receive a $12 billion aid package to lessen the burden of trade disputes by the Trump administration. The U.S. Chamber of Commerce calls farmers and ranchers the “hardest hit” by Trump’s trade policy, suffering deep economic losses.
However, agriculture is not alone, and an analysis by the U.S. Chamber found that offering so-called bailouts to all industries affected by trade policies would cost taxpayers $39 million. The Chamber says the administration’s focus should be expanding free trade and removing harmful tariffs, “not allocating taxpayer’s money to only marginally ease the suffering” for some of the industries feeling the pain of the trade war.
Farmers and ranchers have told the Trump administration they want trade, not aid.