Trade War Assistance Coming Soon: Top Senator
A Trump administration aid package to farmers affected by the U.S.-China trade dispute could be announced within a week, according to Senate Agriculture Appropriations Subcommittee Chairman John Hoeven (R-N.D.).
The senator told reporters that the assistance would likely exceed the $12 billion provided in the first round of USDA aid for farmers harmed by Chinese tariffs.
President Trump said Monday that his administration is planning roughly $15 billion in aid to farmers targeted by Chinese tariffs.
China said it will raise tariff rates on $60 billion in U.S. products in response to higher U.S. tariffs following the breakdown in last week’s trade talks. Soybeans—a leading U.S. agricultural export to China—are expected to be a prime target.