July 31, 2018 — A new U.S. Chamber of Commerce analysis found that providing similar aid to all sectors affected by President Trump‘s tariffs would cost U.S. taxpayers $39 billion.
The Trump administration last week announced a $12 billion emergency aid package for the nation’s farmers who are taking a hard hit from retaliatory tariffs unloaded by China, Mexico, Canada and other trading partners because of the president’s imposition of tariffs.
The Chamber’s analysis shows that on top of the $12 billion that could be doled out to farmers as early as this fall, another $27.2 billion would be needed to help other sectors such as fishermen, cotton and fabric manufacturers and makers of steel and aluminum.
After Agriculture Secretary Sonny Perdue announced the agriculture aid last week, the Chamber decided to determine how much it would cost to provide a similar level of aid to each industry affected by the budding trade war.
Read the full story at The Hill