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U.S. farmers receive $8.52 billion in aid to date, USDA says [View all]
Source: Reuters
BUSINESS NEWS MAY 15, 2019 / 11:15 AM / UPDATED 6 HOURS AGO
U.S. farmers receive $8.52 billion in aid to date, USDA says
WASHINGTON (Reuters) - The U.S. Department of Agriculture has to date paid out $8.52 billion in direct payments to American farmers as part of the 2018 aid program, designed to offset losses from trade tariffs by China and other trading partners, a spokesman for the agency said.
U.S. President Donald Trump last year pledged up to $12 billion in aid to farmers, a key constituency, to help offset losses due to Chinese tariffs imposed in response to Washington’s levies on Chinese goods.
A USDA spokesperson said the department had as of Wednesday paid out a total of $8.52 billion in direct payments, one portion of a wider trade mitigation program which also includes support up to $1.2 billion through commodity purchases and $200 million allocated to developing foreign markets.
The top five commodities that received aid were soybeans, corn, wheat, cotton and sorghum while the top five states receiving the payments were Illinois, Iowa, Kansas, Nebraska and Indiana, the USDA spokesman said.
-snip-
U.S. farmers receive $8.52 billion in aid to date, USDA says
WASHINGTON (Reuters) - The U.S. Department of Agriculture has to date paid out $8.52 billion in direct payments to American farmers as part of the 2018 aid program, designed to offset losses from trade tariffs by China and other trading partners, a spokesman for the agency said.
U.S. President Donald Trump last year pledged up to $12 billion in aid to farmers, a key constituency, to help offset losses due to Chinese tariffs imposed in response to Washington’s levies on Chinese goods.
A USDA spokesperson said the department had as of Wednesday paid out a total of $8.52 billion in direct payments, one portion of a wider trade mitigation program which also includes support up to $1.2 billion through commodity purchases and $200 million allocated to developing foreign markets.
The top five commodities that received aid were soybeans, corn, wheat, cotton and sorghum while the top five states receiving the payments were Illinois, Iowa, Kansas, Nebraska and Indiana, the USDA spokesman said.
-snip-
Read more: https://www.reuters.com/article/us-usa-china-trade-farmers/u-s-farmers-receive-8-52-billion-in-aid-to-date-usda-says-idUSKCN1SL1ZN
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