Trade damages Trump administration pledges assistance to farmers
On July 24,U.S. Secretary of Agriculture Sonny Perdue announced that the U.S. Department of Agriculture (USDA) will take several actions to assist farmers in response to trade damage from unjustified retaliation.
“This is a short-term solution to allow President Trump time to work on long-term trade deals to benefit agriculture and the entire U.S. economy,” Perdue said. “The President promised to have the back of every American farmer and rancher, and he knows the importance of keeping our rural economy strong.”
He continued, “Unfortunately, America’s hard-working agricultural producers have been treated unfairly by China’s illegal trading practices and have taken a disproportionate hit when it comes illegal retaliatory tariffs. USDA will not stand by while our hard-working agricultural producers bear the brunt of unfriendly tariffs enacted by foreign nations.
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.
Perdue explained, “The programs we announced help ensure our nation’s agriculture continues to feed the world and innovate to meet the demand.”
“The $12 billion package of agricultural assistance announced by the administration will provide a welcome measure of temporary relief to our farmers and ranchers who are experiencing the financial effects of the trade war,” commented American Farm Bureau Federation President Zippy Duvall. “We are grateful for the administration’s recognition that farmers and ranchers needed positive news now, and this will buy us some time.”
