USDA has decided to unleash the second half of a $12 billion bailout for farmers affected by retaliatory tariffs.
“We stand with our Farmers!” President Donald Trump said in Monday’s announcement on Twitter.
The first round of funding began in September, with the second stage on tap if the administration thought it was warranted.
Producers of corn, dairy, hogs, soybeans and wheat can receive direct payments to offset losses from tariffs other countries have imposed as Trump attempts to gain trade conditions more favorable to the United States.
China all but closed its markets to U.S. soybeans during the trade dispute, though the Asian power bought some after a meeting between leaders of the two countries a few weeks ago at the G20 summit.
“While there have been positive movements on the trade front, American farmers are continuing to experience losses due to unjustified trade retaliation by foreign nations,” said Ag Secretary Sonny Perdue. “This assistance will help with short-term cash flow issues as we move into the new year.”
The tariff relief program also includes purchases of products for food assistance programs, and programs to expand U.S. ag markets overseas.
Farmers may apply for funding here.
Source: Lancaster Farming