The focus of the China-US trade war is that China has reduced the purchase of US agricultural products, which has affected US farmers. US Prime Minister Sonny Perdue said that affected farmers can get a minimum of $15 per acre and will announce a full plan by the weekend.
The total amount is about 16 billion US dollars higher than the previous round of subsidies
Reuters quoted Perdue as saying that information will be available before the weekend, with a total program amount of about $16 billion.
This is already the second round of farmer subsidies. Last year, the US government compensated farmers for $12 billion due to trade disputes. This means that the total amount of subsidies this time is higher than the previous round.
At least $15 per acre, the industry is expected to be assured
After the Ministry of Agriculture absorbed the opinions of the last subsidy, this time the subsidy plan was improved. The loss rate of each county was calculated first, and then the subsidy ratio of the district was calculated accordingly.
Perdue said that the minimum subsidy is $15 per acre, and Craig Ratajczyk, chief executive of the Illinois Soybean Association, said the amount of the subsidy would make agricultural institutions more reassuring.