Business

US President Donald Trump has issued a warning about the possibility of new tariffs on agricultural imports, particularly targeting rice from India and fertilizer from Canada. This comes as trade discussions with both nations are ongoing but not making significant headway. Trump shared these comments during a meeting at the White House, where he introduced a multi-billion-dollar relief package for American farmers while increasing his criticism of agricultural imports from India and other Asian countries. The Republican leader argued that these imports are harming local producers and emphasized his determination to use tariffs to protect American farmers. He announced that the government would allocate “$12 billion in economic assistance to American farmers,” which will be funded by tariff revenues collected from trade partners. “We’re really taking in trillions of dollars, if you think about it,” Trump stated, mentioning that other countries have taken advantage of the US like never before. He presented the new assistance as crucial for stabilizing the farming economy, which he described as suffering from inherited inflation and low commodity prices. “Farmers are an indispensable national asset, part of the backbone of America,” he remarked, asserting that tariffs are vital for improving US agriculture. During a detailed discussion about rice imports, India was highlighted as a significant factor, with one producer from Louisiana noting the negative impact on southern growers. When informed that Indian companies own “the two largest brands” in the US retail rice market, Trump responded, “All right, and we’ll take care of it. That’s great. It’s so easy… Tariffs, again, solves the problem in two minutes.” He added, “They shouldn’t be dumping... I mean, I heard that, I heard that from others. You can’t do that.”