US Secretary of Agriculture Sonny Purdue on Thursday announced more details about the $ 16 billion aid package that President Trump promised farmers who were hit by his administration’s growing trade war with China and severe weather.
The assistance provided by the Market Facilitation Program (MFP) and the Food Procurement and Distribution Program (FPDP) is in line with the estimated financial losses incurred by farmers due to the response tariffs imposed on US products by China, USDA said.
Registration for assistance begins July 29 and ends December 6 this year, and payments should begin next month. The program, which was announced in May, will last until the fall and winter if the Donald Trump administration does not resolve the trade conflict, CNBC reports.
According to the US Department of Agriculture, payment rates in the county range from $ 15 to $ 150 per acre, depending on the effects of unjustified trade retaliation in the county.
He explains that he will base payments on factors such as specific crops and the location of farmers.