Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
LOS ANGELES, Dec. 29 (Xinhua) — The Southern California News Group (SCNG) on Sunday published an editorial titled "$12 Billion Farm Payout Is a Tariff-Induced Disaster," saying the farm aid plan announced earlier this month highlights the failure of the Donald Trump administration's trade policies.
The article, written by the SCNG editorial board, begins with a pointed question: “If President Donald Trump’s tariffs and trade wars are so beneficial to the American economy, why is he forced to give out, as he did this month, $12 billion to farmers harmed by tariffs and trade wars?”
"The simple answer, of course, is that tariffs and the trade wars they lead to are never good for our economy or the economy of any other country. They are additional taxes—as if we need additional taxes—on American consumers, and on no one else," the article states.
The article argues that Trump's tariff calculations are fundamentally flawed and that his understanding of foreign trade is outdated, as in the era of globalization, tariffs no longer play a significant role in increasing federal revenues.
The editorial portrays the $12 billion payment to farmers as an unfair measure designed to mask problems created by the administration itself.
It questions the administration's attempt to solve a problem rooted in its own trade policies, noting that much of the money will go to producers of crops like soybeans, much of which was sold to trading partners without issue before Trump launched his trade war.
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