US Secretary of Agriculture Sonny Perdue today launched the second and final round of trade mitigation payments. These are aimed at assisting farmers suffering from damage due to unjustified trade retaliation by foreign nations. Producers of certain commodities will now be eligible to receive Market Facilitation Program (MFP) payments for the second half of their 2018 production.
Usda.gov quoted Perdue as saying: “The President reaffirmed his support for American farmers and ranchers and made good on his promise, authorizing the second round of payments to be made in short order. 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. This assistance will help with short-term cash flow issues as we move into the new year.”
In July, Perdue announced that USDA would act to aid farmers in response to trade damage from unjustified retaliation. President Trump directed Secretary Perdue to craft a short-term relief strategy to help protect agricultural producers while the Administration works on free, fair, and reciprocal trade deals to open more markets to help American farmers compete globally. In September, USDA initiated three programs to aid American agriculture in sustaining the short-term damages associated with the trade disputes and securing long-term, stable export markets.