Trump Turns to a Depression-era Solution to Help the Farmers He Is Hurting
by Bob Schwartz
White House readies plan for $12 billion in emergency aid to farmers caught in Trump’s escalating trade war
The U.S. Agriculture Department on Tuesday plans to announce a $12 billion package of emergency aid for farmers caught in the midst of President Trump’s escalating trade war, two people briefed on the plan said, the latest sign that growing tensions between the United States and other countries will not end soon….
The money would be extended just as voters in some of the most heavily impacted states are preparing to cast votes in the midterm elections. There are several key Senate races in farm dependent states like Missouri, North Dakota, and Indiana this November, and the outcome of those races could determine who controls the chamber next year.
The White House has searched for months for a way to provide emergency assistance to farmers without backing down on Trump’s trade agenda, and the new program will extend roughly $12 billion through three mechanisms run by the Department of Agriculture.
The funds will come through direct assistance, a food purchase and distribution program, and a trade promotion program. It will rely in part on a Depression-era program called the Commodity Credit Corporation, a division of the Agriculture Department created in 1933 to offer a financial backstop for farmers.
So the damage Trump is doing to farmers with his unnecessary and universally condemned trade war is potentially so great that he is turning to a solution from the Depression. Whether you call that telling, ironic or simply surreal, it is just one more milestone on a road to American parts strange and unknown—or more likely a road to nowhere.