Trump Tariffs Live Updates: Trump Floats 'Some' Additional Tariff Carveouts; US Unveils $12B Farmer Bailout

The trade war between the United States and its major trading partners continues to escalate, with President Trump hinting at potential new tariff carveouts. Meanwhile, the US government has announced a $12 billion bailout package for American farmers affected by the trade tensions.

Trump's comments on additional tariff exemptions come as China and the European Union have been pushing back against his administration's tariffs. The president said that he is "considering" some new carveouts, but didn't provide further details.

• The US has already imposed tariffs on $50 billion worth of Chinese goods, with China retaliating by slapping duties on an equal amount of US products.
• Trump's administration is also planning to impose a 25% tariff on imported automobiles and auto parts.

The proposed farmer bailout package aims to provide financial relief to agricultural producers affected by the trade war. The funds will be distributed through a variety of programs, including direct payments and insurance subsidies.

• The US Department of Agriculture (USDA) will distribute $6 billion in direct payments to farmers who have been impacted by the tariffs.
• An additional $4.7 billion will go towards purchasing surplus agricultural products for distribution to food banks, schools, and other recipients.

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