Bill Introduced to Pay Farmers With Lost Exports, Higher Costs Due to Trade War
Rep. Julia Letlow, R-La., recently introduced a bill that would use tariff revenues on agricultural products -- Chapters 1 through 24 of the Harmonized Tariff Schedule -- to make farmers whole for lost export revenue and higher costs on their own business purchases.
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She calls it the Tariff Responses and Damages to Exports (Trade) Fund, and the Agriculture Department would be tasked with determining the size of payments for producers affected by reduction in access to foreign markets, losses due to decreased exports, losses due to tariff or non-tariff barriers abroad, as well as export competition and "increases in the costs of items and goods necessary for the production of agricultural commodities."
The bill doesn't say those higher costs have to be due to tariffs on imports. However, in a press release announcing the bill, Letlow said, "As President [Donald] Trump works to fix unfair trade practices, I’m moving to make sure our farmers receive the support they need. This bill would dedicate money collected from tariffs on foreign ag products to American farmers. Our farmers are the lifeblood of Louisiana and our nation, and I’ll have their back every step of the way as President Trump works to create a level playing field with our trading partners."
The fund would exist through Sept. 30, 2030.