U.S. Agriculture Secretary: No Need for More Farm Aid After China Trade Deal
With China poised to increase purchases of U.S. agricultural goods this year as part of a Phase 1 China trade deal, the U.S. Agriculture Secretary said on Monday there is no need for a third year of trade-related aid for farmers, reports Mark Weinraub at Reuters.
Farmers have increasingly relied on aid from the U.S. government to survive during the past two years as exports have lagged throughout the U.S.-China trade war. But USDA Secretary Sonny Perdue said China will soon begin buying U.S. farm goods to meet the $40 billion in agricultural purchase agreements it made, alleviating growers’ need for more aid.
China, which typically buys the bulk of its U.S. agriculture products during the fall and early winter, will likely change the timing of its purchases, Perdue said.
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