Despite positive trade news of late, USDA could soon announce another tranche of tariff relief payments to reimburse producers for last year’s financial losses.
The department has promised up to $14.5 billion in direct aid for 2019 production (on top of $8.6 billion provided for 2018 losses), and officials haven’t ruled out an entirely new program for 2020, reports POLITICO.
Trade aid and other government payments were largely responsible for keeping net farm income afloat in 2019. The bailout has faced growing scrutiny from ag economists and lawmakers who have questioned the fairness of how the money is distributed across the industry.
But there’s been little effort by Congress to interfere with the program, widely seen as a lifeline for farmers amid Trump’s trade storm.
Source: Wisconsin Ag Connection
