Government Announces $12 Billion Aid for Farmers Impacted by Tariffs
U.S. Secretary of Agriculture Sonny Perdue announced Tuesday (7/24) that the U.S. Department of Agriculture (USDA) will take several actions to assist farmers in response to trade damage from unjustified retaliation.
President Trump directed Secretary Perdue to craft a short-term relief strategy to protect agricultural producers while the Administration works on free, fair, and reciprocal trade deals to open more markets in the long run to help American farmers compete globally.
Specifically, USDA will authorize up to $12 billion in programs, which is in line with the estimated $11 billion impact of the unjustified retaliatory tariffs on U.S. agricultural goods. These programs will assist agricultural producers to meet the costs of disrupted markets.
Soybeans, corn, wheat and hogs are among the agricultural commodities that stand to benefit from three USDA programs designed to benefit producers most significantly affected by trade disruptions and retaliatory tariffs.
The market facilitation program that will provide payments to these producers will be aimed at assisting those who grow soybeans, sorghum, corn, wheat, cotton, as well as dairymen and hog producers.