Donald Trump follows through with US$4.9 billion aid package for American farmers hurt by trade war with China
- The USDA expects direct payments to farmers to total US$9.5 billion, with around US$7.3 billion for soybean farmers, the hardest hit from the trade war
- Farmers form part of the rural base that helped catapult Trump into the White House
The Trump administration said Monday it has approved a second round of payments in its bailout programme for farmers hurt by the ongoing trade war with China.
The Agriculture Department announced that it would spend billions more through 2019 on direct cash aid to producers of soybeans, cotton, corn and several other commodities.
The bulk of payments are slated for soybean farmers, after new government data showed a sharp decline in their exports to China.
This second round of payments is a portion of a broader farm bailout the Trump administration announced this summer, which the administration at the time said could spend up to US$12 billion to help farmers.
This summer, Agriculture Department officials said the first emergency aid package would consist of US$4.7 billion in direct payments to farmers, while this second round of payments would be US$4.9 billion, bringing total direct payments to US$9.6 billion.