President Trump promised an unspecified amount of additional federal aid to farmers on Friday if the economic benefits of the various international trade deals he has negotiated in recent months are slow to materialize.
The president’s U.S.-Mexico-Canada Agreement has yet to be ratified by Canada, where it is facing some resistance in Parliament that could delay the deal from going into effect for several weeks. The deal would replace the 1993 North American Free Trade Agreement.
In an all-caps tweet Friday morning, Trump said, “IF OUR FORMALLY TARGETED FARMERS NEED ADDITIONAL AID UNTIL SUCH TIME AS THE TRADE DEALS WITH CHINA, MEXICO, CANADA AND OTHERS FULLY KICK IN, THAT AID WILL BE PROVIDED BY THE FEDERAL GOVERNMENT, PAID FOR OUT OF THE MASSIVE TARIFF MONEY COMING INTO THE USA!”
The president concluded negotiations for the U.S,-Mexico-Canada Agreement on trade last month, held a signing ceremony, and has touted it as a success. However, the deal is currently stuck in committee in the Canadian Parliament. Prime Minister Justin Trudeau’s government has said it is dedicated to ratifying the deal, but election losses last year mean that his Liberal Party no longer has a controlling majority and must work in coalition with other parties.
The Trump administration also signed phase one of a trade agreement with Beijing last year that requires China to buy $200 billion worth of U.S. goods, including $40 billion-$50 billion in agricultural products, though some experts doubt that level of demand actually exists in China. The administration has proposed increasing the budget of the U.S. Trade Representative’s Office to ensure Beijing complies with the deal.
