How much commercial relief is provided during Trump’s first trade war?

president Donald Trump It is expected that the customs tariff plan will be announced on Wednesday, while its administration is preparing to alleviate the relief of American companies that bear the potential residence definitions of foreign governments.

Trump plans to reveal his introductory plans on Wednesday afternoon as part of the “Liberation Day” event in the Roses Garden at the White House. The details surrounding these plans were in a state of flow during the past week, although it is expected to include a mutual tariff plan that corresponds to the customs tariff for imports of imports faced by American exporters. A wide and flat tariff was also launched.

Many countries have already indicated that they intend to take revenge on the American definitions, which raised fears of escalation Trade war As long as long -distance walking. These retaliatory definitions may target certain industries, and based on the experience of commercial conflicts from pushing the Trump’s first tariff, the administration may intervene to provide assistance to the industries that have been shot in the commercial warship.

During the first period of Trump, China targeted a number of American sectors with a revenge tariff, with agriculture the most popular goal. To help farmers deal with the loss of access to well -known markets abroad, the US Department of Agriculture (USDA) has spent two tours of commercial aid.

The White House says, Trump “is always for a good negotiation

Non -party Congress Research Service noticed in a report at a time when the US Department of Agricultural Ministry of Agriculture submitted $ 28 billion in Commercial aid to farmersIncluding 12 billion dollars in 2018 and $ 16 billion in 2019. compensation rates were set based on the goods affected by the production levels of 2017, while the eligibility was based on the levels of applicants and the amount of this income derived from agricultural, education or forest activities.

The Minister of Agriculture, Brock Rollins, said in statements to reporters at agricultural facilities in Iowa on Monday that the US Department of Agriculture is preparing to support the agricultural sector again if the retaliatory definitions are targeting industry, according to a report before Iowa Capital Dispatch.

“We hope that our farmers and our society will not be harmed – at least in the short term – through these decisions,” said Rollins. “But if this is the case, the president’s commitment is the same today as it was five or six years ago. We are in the US Department of Agriculture and our partners throughout Congress and Washington, we will work around the clock to ensure that we have the applicable programs to do what we did the last time with (Credit Company for Commodities), and we expect to do the same time this time, but what happens in what is happening next week and month will not be determined.”

Wall Street companies see the risk of recession increasing on customs duties and commercial war

Clark Pakard, a research colleague at the Herbert Center A. Steel for Commercial Policy Studies at the Kato Institute, Revenge definitions It is possible to focus once again on agricultural exports, given that the industry is politically important for the president.

“I expect most revenge, or a lot of revenge, will reach American agricultural commodities for multiple reasons. We export a lot of agricultural products. We are only good and effective in producing agricultural products, but it is also a political sensitive industry for the president,” said Bakard.

“Therefore, in some respects, these games become very calculated. I have seen Canada floating an idea” if we face the customs tariff, we will strike Tesla with retaliatory definitions specifically to push a kind of political spaciousness between (billionaire Tesla, CEO) Elon Musk The president said: “It remains to see how countries will respond, but again, I expect a lot of revenge for agriculture will fall.”

The European Union ambassador warns of the United States from the United States.

Bakard added that the volume of any new commercial relief for farmers or other affected industries most likely depends on “the extent of foreign revenge.”

Ryan Young, the chief economist at the Institute of Competitive Institutions, told Fox Business that Commercial relief During the first period of Trump’s first term, the program did not support the other affected sectors that go beyond agriculture, but the administration may find other ways to use legislation to provide support behind commercial aid programs.

Get Fox Business on the Go by clicking here

“I am not aware of any assistance given to the victims of other revenge tariffs, such as Harley Davidson, distillers and other industries,” said Young. “Many companies have received aid from the Biden era bills, such as the Chips Law, the Act of Inflation, the Bill of Infrastructure and other large spending bills, although most of this was not necessarily related to tariffs.