USDA Plan Pays Farmers $16 Billion Amid China Trade War
WASHINGTON – The Department of Agriculture announces a plan to provide $16 billion to help farmers impacted by the trade war with China.
It gives $14.5 billion in direct payments to producers covering commodities like soybeans, wheat, corn and canola. Nearly $1.5 billion will go toward buying surplus goods like beef, pork and poultry. The plan also gives $100 million toward developing new markets to trade American goods.
Republican North Dakota Senator John Hoeven says payments will be made in three waves, with the first going out in July or August.
“What we want is access to markets, but because the Chinese have delayed the negotiations, and targeted our farmers, we need to provide this assistance.”
Democratic Minnesota Senator and presidential candidate Amy Klobuchar says in a tweet, quote, “Farmers would rather farm and sell what they produce instead of getting a bailout. The President must get back to the negotiating table.”