Home / World / Trump readies up to $ 20B more to save farmers from commercial war

Trump readies up to $ 20B more to save farmers from commercial war

  Sonny Perdue "title =" Sonny Perdue "/> </source></source></source></source></picture>
                  Agricultural Secretary Sonny Perdue announced new support for farmers affected by trade cessation with China | Alex Wroblewski / Getty Images </p>
<p>  Trump administration could do so much Because $ 20 billion dollars are available to farmers in a second round of aid aimed at offsetting losses from China's latest repayment fees, said agricultural secretary Sonny Perdue late Wednesday. </p>
<p>  The second part of the trade aid is modeled after last year, pledging up to $ 12 billion to support for 2018 production, mostly in the form of direct payments to farmers who were convicted of conciliation duties and the purchase of goods. </p>
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Perdue spoke from South Korea during a conference call with reporters, saying the second round of aid would likely include more direct payments and purchases of goods.

"Our prayers SHEETS is probably between $ 15 to – $ 20 billion, he said the estimated economic damage to farmers and the extent of the potential aid package, but he reiterated that many details still missing.

Perdue also said that the USDA took into account feedback from last year's trading aid package. Some raw materials such as corn and wheat farmers were not satisfied with the amount of support their farmers received under the plan.

"We will look at the history of what happened to that program and we will try to learn from it and improve from it and address some of the stakeholder comments," he told reporters.

As to the time, Perdue did not give an estimate when the plan was to be published, but he said that the USDA "hurried" to his work at the request of President Donald Trump Secretary said the program would conform to the WTO limits on agricultural subsidies.

Perdue said that the money could once again be triggered by the Commodity Credit Corporation, and management is also considering whether trade-reducing funds could be provided through a disaster relief bill as at present. negotiated on Capitol Hill, he added.

Perdue had said for months to administer The first trading aid program of the ion would not be replicated this year and that Farmers would need to navigate turbulent trading markets on their own when making decisions for 2019 planting.

But the administration changed the course after the US-China Customs Campaign intensified earlier this month. Trump haked tariffs to 25 percent on $ 200 billion Chinese imports, from 10 percent earlier, after US negotiators claimed that Beijing had backpedaled on specific commitments made during the long trade negotiations.

China responded by raising rates of $ 60 billion US exports, which came into force on June 1, many of which were already subject to retaliation.

The trump administration has also begun preparing to impose 25 percent of customs duties on Chinese imports that have so far been subject to trade repayment, amounting to about $ 300 billion in additional goods. The administration said earlier this week that a final decision on the possible action may not be taken before Trump and China's President Xi Jinping meet at the end of June in Osaka, Japan – an opportunity for face to face shaped to become a pivotal moment in the trade war.

Recently, for the world's two largest economies, it is hoping that a solution to the conflict between the United States and China was within reach and jolted raw material markets from soybeans to pork to cotton.

The increase also led to another decline for US farmers, whose products last year met with tariffs by major trading partners such as Mexico, Canada and the European Union, in addition to the charges imposed by Beijing. The decline in US farms and ranches deepened what had already been a multi-year decline in commodity prices which has contributed to a sharp decline in net income since 2013.

The Rapporteurs of the Administration's Aid Efforts are opposed to agricultural producers, t have to bear the agency for a white house endeavor. balancing US trade relations, including an attempt to crack China's practice of stealing intellectual property and forcing foreign companies to hand over valuable technology to access the Chinese market. But critics are likely to argue that Trump is trying to place farmers and ranchers – an important base of conservative political support – before the 2020 election by throwing more money into a problem with the administration's own development.

According to the USDA's first aid package, about $ 9.5 billion was calculated for direct payments to farmers and ranchers, but spending for that portion of the program to date is about $ 8.5 billion. The initial program provided an additional $ 1.2 billion for the purchase of surplus goods to be donated to federal nutritional and food banks. An additional $ 200 million was allocated for efforts to promote US goods overseas.

The first part of trade assistance was met with complaints, mainly from corn and wheat growers, that the formulas used to calculate direct payments did not adequately reflect their losses. The National Corn Growers Association on Wednesday said the penny-per-bushel payment rate for corn farmers during the previous program "did not cut it and will not cut it now."

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