Trump Promised $12B Payout to Farmers Hit by Trade War—Has Only Given $838 Million
SHORTCHANGED
Farmers have been hit hard by Chinese tariffs.
Reuters / Joshua Roberts
A promised $12 billion fund created by the Trump administration to “make it up” to farmers hit by his trade war with China has only seen $838 million paid out, the New York Times reports. Figures from the Department of Agriculture showed that few farmers have been helped since the first $6 billion pot of money was made available in September. Another pool of up to $6 billion is expected to become available next month—Sonny Perdue, the agriculture secretary, said it's unlikely any money beyond that will be available. Trump's trade war with China has seen American farmers have their access reduced to a critical market for soybeans, farm equipment and other products. “This was supposed to make sure farmers were not the victims of this trade policy,” said Jim Mulhern, president of the National Milk Producers Federation. “I think most agriculture producers feel that the payments have not come close to making up for the damage for the tariffs.”
