The US government will pay farmers 4.7 billion dollars compensation
the head of the USDA reported that farmers who have suffered from trade wars of the United States, will soon receive the first payment. Almost ¾ of the amount of direct payments, or 3.6 billion $ will be given to the producers of soy.
back in July, USDA announced a program of assistance to farmers affected from the introduction of the American partners to import duties in response to actions of trump, which was to be $ 12 billion. All this time farmers have been awaiting the details of the program.
USDA stressed that "farmers should not have to pay the bills only because of patriotism and the programme of assistance to the farmers will give the government time to conclude new trade agreements that would benefit the entire U.S. economy and for the agricultural sector in particular."
it is Expected that the decision on the second aid package can be made until December, if the situation would remain as complex.
Recall that after the introduction of China's tariffs on soybean in response to the actions of the US, the prices of soybean futures fell by 20.5% to 307 $/t Forecast a record soybean crop in the US at 125 million tons, of which normally 40 million tonnes was exported to China, could further hit prices.
recently the President of trump signed a new trade agreement with Mexico and promised soon to establish relations with China. The administration will try to solve problems before the November elections to the Senate, to support farmers rating of the Republicans, which is now significantly decreased.