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IPFS News Link • Government Debt & Financing

Federal Payments to Farmers Have Tripled Since 2017, and Trump Just Promised Even More


It was March 2, 2018, when President Donald Trump's top trade adviser appeared on Fox Business Network to reassure Americans that other countries wouldn't retaliate against new tariffs proposed by the White House.

Those tariffs on imported steel and aluminum were the first major battle in what's become an expensive and largely unsuccessful 2 1/2 year-long trade war. But even at that early stage, it was obvious to some observers that the trade war wouldn't be as easy or beneficial as the Trump administration was promising. "Should we expect China and others to come back and say, 'Oh really America? Well take this, I'm going to raise tariffs and retaliate on farm goods," Fox Business' Maria Bartiromo directly asked Peter Navarro, director of the White House Office of Trade and Manufacturing Policy, during that March 2 interview.

"I don't believe any country is going to retaliate for the simple reason that we are the most lucrative and biggest market in the world," Navarro told her.