Trump Administration Has No Plans for 2019 Farmer Trade-War Aid

October 25, 2018 11:27 AM
 
The Trump administration has no plans to extend aid to farmers in 2019 on the assumption that the market will recover even if the trade war with China persists.

(Bloomberg) -- The Trump administration has no plans to extend aid to farmers in 2019 on the assumption that the market will recover even if the trade war with China persists, U.S. Agriculture Secretary Sonny Perdue said.

In July, the administration announced that it would deliver $12 billion in aid to farmers caught in the cross-hairs of President Donald Trump’s trade spat with China. The world’s second-biggest economy slapped tariffs on U.S. shipments of soybeans and pork, among other commodities. Farmers were able to apply for the first round of aid, totaling $4.7 billion, last month. Perdue, speaking to farmers and reporters in a farm shed in Champaign, Illinois, on Wednesday didn’t disclose a specific date for the second round of funding.

The trade war impacted “farmers after they made planting decisions for 2018,” Perdue said. “The market will equilibriate over a period of time. There’s not an expected or anticipated market facilitation program for 2019.”

Perdue didn’t offer an estimate for how much longer the trade war could continue, saying the onus is on China.

 

©2018 Bloomberg L.P.

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Comments

 
Spell Check

Dave
Auburn, IN
10/31/2018 10:42 PM
 

  Got a great idea, all of us farmers need to call our congressman and demand that they take the $100's of billions of dollars that they support illegals and support us, keep us in business, keep our suppliers in business, keep our economy moving, win win situation,

 
 
RedGreen
Scranton , MS
10/31/2018 03:39 PM
 

  Well, I bought into the Trump lie like most of us. Now we are among a long list of folks he has screwed. Can not stand Hillary but the dems were right about Trump being a con man.

 
 
Rick
Jonesboro, AR
10/31/2018 11:47 AM
 

  Why would there be tariff relief in 2019? In 2018 the payment was totally appropriate. Farm prices were affected in season by the tariffs. In 2019 the low prices will be known at planting and farmers can plant into a $7.50-$8.50 bean price at their own risk. Corn won't be much better. Too many acres.

 
 
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