USA, Washington, DC. US Secretary of Agriculture Sonny Perdue released a detailed accounting of how the US Department of Agriculture (USDA) calculated estimated damage from trade disruptions. USDA’s Office of the Chief Economist developed an estimate of gross trade damages for commodities with assessed retaliatory tariffs by Canada, China, the European Union, Mexico, and Turkey to set commodity payment rates and purchase levels in the trade mitigation package announced by USDA.
The organization employed the same approach often used in adjudicating World Trade Organization trade dispute cases.
The full description of the Trade Damage Estimation for the Market Facilitation Program and Food Purchase and Distribution Program is available on the website of USDA’s Office of the Chief Economist.