Trump Readies New Round of Aid to Farmers Hit by China Trade War [View all]
Source: Bloomberg
The Trump administration is preparing to announce another round of aid to farmers hurt by the trade war with China as soon as Thursday, people familiar with the plan said, a package of assistance that could exceed $15 billion.
The aid plan is largely modeled on the program the administration put in place last year after China slapped retaliatory tariffs on U.S. agricultural products, though the payments will be more generous.
The administration is considering payments of about $2 per bushel to soybean growers, 63 cents per bushel to wheat growers and 4 cents per bushel to corn growers to compensate for losses from the trade war, according to two people familiar with the payment levels, who asked not to be identified because the aid plan hasn’t been made public.
The administration last year paid $1.65 per bushel for soybeans, 14 cents per bushel for wheat and 1 cent per bushel for corn.
Read more: https://www.bloomberg.com/news/articles/2019-05-21/trump-farmers-trade-war
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