Market News & Headlines >> U.S. Could Offer Farmers More Aid
The Trump administration stands ready to provide more federal aid to farmers hurt by trade conflicts if necessary, a White House advisor told reporters on Monday as USDA extended the deadline to apply for the current “trade aid” program.
"We have allocated $12 billion, some such, to farm assistance. And we stand ready to do more if necessary," White House economic adviser Larry Kudlow told reporters, according to a Reuters News Service report.
The administration last September authorized up to $12 billion in aid to producers aimed at assisting producers hurt by “unjustified trade retaliation” by foreign nations, including direct payments to producers of up to $10.6 billion through the Market Facilitation Program (MFP).
USDA had previously ruled out a new round of aid for 2019. As of March, more than $8 billion had been paid out as part of last year's program. On Monday, the department said it had extended the deadline to apply for MFP payments to May 17.