NPC News: Trade Mitigation Programs Announced
Last week, USDA released more details on the trade mitigation programs that are intended to reduce the impact of the ongoing trade retaliation between the U.S. and various countries.
Three distinct programs are being made available;
- The Market Facilitation Program will provide direct payments to cotton, corn, dairy, pork, soybeans, sorghum and wheat at varying levels.
- The Food Purchase and Distribution Program will conduct food purchases of various impacted commodities including potatoes ($44.5 million).
- The Agricultural Trade Promotion Program will provide exporters with assistance “in identifying and accessing new markets.”
Overall, these mitigation programs will potentially provide up to $12 billion to eligible individuals and organizations.
“We appreciate the difficult task that USDA was handed. Given the huge cost to American farmers due to these retaliatory tariffs and the relatively small size of this mitigation package, the only sustainable solution is for all parties to return to the negotiating table and reach a settlement that can allow U.S exports to flow,” said John Keeling, NPC CEO.