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Tuesday, Oct 30 2018

Trump Administration Abandons Farmers Devastated By Trade War

Oct 30, 2018

“The Trump administration’s abandonment of farmers devastated by a reckless trade war is just one more broken election year promise,” said American Bridge spokesperson Amelia Penniman. “North Dakotans suffering from the trade war deserve a Senator who will put them ahead of political allies. They can’t count on Kevin Cramer to be that leader.”

Reuters: U.S. agriculture chief says no plan to extend farm aid to offset tariffs
By Humeyra Pamuk | October 29, 2018

  • “The U.S. Department of Agriculture is not planning to extend an up to $12 billion aid package for farmers into 2019, Secretary Sonny Perdue said on Mondayto mitigate farmer losses due to the imposition of tariffs on American exports.”
  • “The Trump administration in July authorized the aid to shield farmers and ranchers from the repercussions of trade disputes between the United States and China, the European Union and others.”
  • After the United States levied tariffs on Chinese goods, “Beijing retaliated by hitting $110 billion of U.S. products, including the agriculture sector, prompting the USDA to offer compensation to farmers of soybeans, sorghum, corn, wheat, cotton, dairy and hogs.”
  • “China, traditionally the biggest buyer of U.S. agriculture exports, has been largely out of the market for several products, leaving farmers struggling with a supply overhang.”
  • “The USDA outlined the allocations of farm aid for the first tranche of $6 billion at the end of August. Perdue said he did not expect the second tranche to be outlined any later than December, adding that the amount was still being discussed.”
  • “Frankly right now, we see no change in the amount” of aid, said Perdue.

Read the full story here.

Published: Oct 30, 2018

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