Trump’s $12 billion bailout of farmers hurt by his trade wars has been a massive bust: NYT | Alternet
According to the Times, the bailout program “has done little to cushion the blow” of the president’s trade wars, “with red tape and long waiting periods resulting in few payouts so far.”
In fact, the Times estimates, just $838 million of the $6 billion worth of bailout funds that have been authorized so far has been paid out.
Among the problems with the program, the paper reports, is that farmers cannot apply for relief funds until they complete their harvests for the season, which has harmed farmers whose harvests have been delayed due to bad weather.
Jim Mulhern, president of the National Milk Producers Federation, tells the Times that most dairy farmers hit hard by the tariffs haven’t seen any significant relief since the program was announced.