The U.S. government will pay American farmers hurt by the trade war with China b...
WASHINGTON/CHICAGO - The U.S. government will pay American farmers hurt by the trade war with China between $15 and $150 per acre in an aid package totaling $16 billion, officials said on Thursday, with farmers in the South poised to see higher rates than in the Midwest.
U.S. farmers, a key Trump constituency, have been among the hardest hit in the year-long trade war between the world’s two largest economies. Shipments of soybeans, the most valuable U.S. farm export, to top buyer China sank to a 16-year low in 2018. In the new aid package, the U.S. Department of Agriculture said it would pay farmers according to geographic location rather than by crop - a change from last year.
The average county payment rate is about $95 per acre in Alabama, $87 in Mississippi and $70 in Louisiana. Payment rates were lower in the Midwest, with a $69-per-acre county average in Illinois, the country’s top soybean producer, and a $66 average in Iowa, the top corn- and hog-producing state. “These payments are enough to make a difference, kind of get us to the harvest,” said Tim Bardole, an Iowa corn and soybean farmer.
Trade talks between China and the United States broke down in May after getting close to a potential agreement and were only revived in a meeting between Trump and Chinese President Xi Jinping last month.
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