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Trump promises more aid to farmers

President Trump told reporters Monday his administration is planning to provide additional aid to help U.S. farmers impacted by the U.S.-China trade war. “Out of the billions of dollars that we’re taking in, a small portion of that will be going to our farmers.”

Details are not available, but Trump says the new aid package will be funded by money brought in by Chinese tariffs. “We’re going to take the highest year, the biggest purchase that China has ever made with our farmers which is about 15 billion dollars and do something reciprocal to our farmers so our farmers can do well. They’ll be planting. They’ll be able to sell for less and they’ll make the same kind of money until such time as it’s all straightened out.”

Trump says the new tariffs on China announced Friday might not be the end of additional tariffs. “We have the right to do another 325 billion at 25% in additional tariffs. That is a tremendous amount of money that would come into our country. I have not made that decision yet.”

The President told reporters he plans to meet with Chinese President Xi at the upcoming G-20 summit in Japan.

President Trump says the trade deal with China was “95% done” when China informed Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer the deal was off.  Trump told reporters Monday that is when he ordered the additional tariffs on 200 billion dollars worth of Chinese goods.