US agrees to pay farmers up to $16bn for trade war losses, South to benefit



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US agrees to pay farmers up to $16bn for trade war losses, South to benefit

US President Donald Trump, a Republican, and his administration agreed to pay up to $16 billion later last week under an aid package aimed at assisting trade-war-hurt US farmers to head off some impacts of their steep losses, while US Secretary of Agriculture, Sonny Purdue had been quoted saying that the financial assistance would be between $15 to $150 per acre for the US farmers hurt by a grueling impact of a twelve-month-long tariff war with China entering into its second year.

Nonetheless, following reveal of US Commerce Department’s statement on a $16 billion aid package, multiple media reports had revealed that US farmers in the South would likely to receive higher rates under aid package than middle and western parts of the United States.

In point of fact, the $16 billion aid package, widely contemplating as an attempt to revive Trump Administration’s acceptance among US farmers ahead of a 2020 presidential election, would be following a $12 billion package for US farmers last year, which Republican President Donald Trump had issued saying that the financial stimulus was aimed at covering up for lower farm good prices amid a declined demand.

Nonetheless, criticizing the move, a number of Democrats were urging that US farmers needed fair trades instead of a consoling bailout which would barely cover their initial investments. Meanwhile, protesting Trump’s compensation aimed at reigniting hopes among US farmers despite a darkening outlook and a rampaging wave of spring storms, US Secretary of Agriculture, Perdue said, “President Trump has a great affection for America’s farmers and ranchers and it’s pretty evident in this program. He knows that they are fighting the fight and they are on the front line”.