USA, Washington. On the heels of unsuccessful trade negotiations with China, the White House increased tariffs. President Donald Trump has also threatened to levy duties on an additional $325 bn. worth of imports, which, if implemented, would mean that nearly all US imports from China would be subject to tariffs.
In response, Beijing enforced “necessary countermeasures,” on top of the tariffs they have already imposed on $110 bn. worth of US products.
Following the recent escalation of trade tensions between China and the United States that will likely exacerbate the erosion of agricultural export markets and further depress commodity prices, the US Department of Agriculture (USDA) is expected to announce a trade assistance package to support struggling family farmers and ranchers.
In a letter sent to US Secretary of Agriculture Sonny Perdue, National Farmers Union (NFU), which represents 200,000 family farmers and ranchers and rural residents across the country, provided recommendations for how best to “craft a package that will adequately address the broad, long-term impacts to all of American agriculture.”
NFU President Roger Johnson issued the following statement in anticipation of the agency’s announcement: “The ever-worsening financial challenges being forced on family farmers and ranchers cannot be overstated. We urge the USDA to ensure that this assistance package provides fair and equitable relief to all family farmers impacted by disruptions in international markets.”