Washington — The US government will pay American farmers hurt by the trade war with China aid ranging between $15 to $150 per acre starting in August, department of agriculture officials said on Thursday, as part of President Donald Trump’s $16bn support package.
The fresh aid programme would be the second round of assistance for farmers after the department’s $12bn plan in 2018 to compensate for lower prices for farm goods and lost sales stemming from trade disputes with China and other nations.
Agriculture secretary Sonny Perdue said farmers have been disproportionately hurt by the trade dispute with China and therefore a fresh round of aid was justified. “They are fighting the fight and they are on the front line,” he said.
US farmers, a key Trump constituency, have been among the hardest hit in the trade war between the world’s two largest economies. Soybeans are the most valuable US farm export, and shipments to China dropped to a 16-year low in 2018.
In the new package, the department has developed varying county rates, calculated based on estimated trade damage caused by retaliatory tariffs imposed by China, the top export market for many US agricultural products.
Applications for the payments will begin on Monday and last until December 6, officials said.
Additional tranches of the payments are scheduled for November and January but will be subject to whether the trade disputes with China and other countries are still ongoing.
Reuters
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.