From the New York Times on Michael Barbaro, this is the Daily.

Today, President Trump announces a $12 billion bailout of American farmers.

Why the trade war he started to help them now requires taxpayers to save them.

It's Wednesday, July 25th.

We're going to say, and I say it now, America first, America first.

So when he was a candidate, Donald Trump made trade a big issue on the campaign trail,

and he promised to do something very different from his predecessors.

We negotiate our foreign trade deals.

He promised to renegotiate trade deals.

Nafta, you heard about Nafta.

The worst trade deal ever signed by anybody at any time.

I am going to withdraw the United straight from the Trans-Pacific Partnership.

Bound to pull out of a trade deal called the Trans-Pacific Partnership.

We will put a stop to all of that on November 8th.

But after President Trump was elected, he didn't actually renegotiate many of those deals.

Instead, he's focused on tariff measures that have hit businesses around the world.

Anna Swanson covers trade for the times.

So it's really my honor to start this process.

It's going to be a very fair process.

It's going to be very fair to other countries, especially those that treat us well.

And we look forward to it. And we look forward to having lots of mills opening up,

lots of plants opening up, both steel and aluminum.

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