To address the increasing harm to the U.S. agricultural sector from the ongoing trade war between the U.S. and some of its major trading partners, primarily China, the U.S. Department of Agriculture today is moving ahead with its aid package targeted at the U.S. agriculture sector.
Totaling $4.7 billion in handouts to farmers, the package includes $3.6 billion for soybeans, $290 million for pork, $277 million for cotton, $156 million for sorghum, $127 million for dairy, $119 million for wheat, and $96 million for corn, according to Bloomberg BNA. The direct aid is part of a larger, $12 billion aid package that will also include other provisions, like $1.2 billion to purchase crop surpluses.
With no end in sight for the trade hostilities with China, the USDA has indicated that it will continue to evaluate further payments and relief in the coming months.
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Eric Heath, Senior Policy Counsel for the Mississippi River Basin Program at the Northeast-Midwest Institute.