Trump allocates billions to victims of farmers

US farmers hurt by the trade war are getting support from US President Trump. The Department of Agriculture (USDA) is making $12 billion available in loans and repurchase schemes.

According to agriculture minister Sonny Perdue, the compensation amount is in line with the damage the trade war entails. That damage is estimated at approximately $11 billion. Perdue calls the measures a short-term solution. It gives the government time to break open trade contracts in favor of the US economy and agriculture.

The details of the support measures are not exactly known; farmers could, however, expect to receive payments from September. Opponents of Trump believe that the president wants to use these measures to please his Republican peasant supporters in the run-up to the Congressional elections.

Wouter Job

Wouter Baan is Head of Meat & Dairy at BoerenbusinessAt DCA Market Intelligence, he focuses on dairy, pork, and meat markets. He also monitors (business) developments within agribusiness and interviews CEOs and policymakers.

w.baan@boerenbusiness. Nl

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