The National Milk Federation recently released a pair of studies showing that dairy farmers will lose more than $1 billion a year thanks to President Trump’s tariffs. The study is being used to boost support for additional federal aid to dairy farmers.
Of course, the farmers have a point that they are losing money, but the solution is to remove the tariff not to increase federal aid to farmers. Federal aid to offset the loss of income from the tariffs compounds the damage done to consumers who are now forced to pay higher prices via higher taxes (either directly or via the inflation tax imposed by the Federal Reserve in order to monetize the federal debt).
You can read Campaign for Liberty Chairman Ron Paul’s thoughts on the trade war here and here.
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