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U.S. To Pay Farmers $4.7 Billion to Offset Trade Conflict Losses

August 28, 2018

Posted By Fornazor International at 1:47 PM 0 Comment

US to spend $4.7B to aid farmers

Soybean farmers will be the primary beneficiaries of a $4.7 billion program to offset trade losses, The Wall Street Journal reports. The U.S. Department of Agriculture will make payments to the farmers under the program, which is intended to counter the impact of Trump administration tariffs and counter-tariffs by other countries, especially China. The USDA will:

  • Make $3.6 billion in payments to soybean farmers
  • Buy up to $1.2 billion of food from farmers
  • Spend $200 million on trade promotion

Starting Sept. 4, the USDA’s Farm Service Agency will administer a program to provide payments to corn, cotton, diary, hog, sorghum, soybean and wheat farmers.  Soybean farmers will get the bulk of the money, $3.7 billion. Pork producers will get $290 million, while cotton farmers will receive $277 million.

The Wall Street Journal reported this story on August 27th 2018. Story is available by subscription to the WSJ.

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