United States seeks to pay $2 per bushel for Soybeans to help farmers

by   |  VIEW 211
United States seeks to pay $2 per bushel for Soybeans to help farmers

Weeks after US President Donald Trump had pledged to US farmers a monetary compensation of $15 billion in light of an escalated tariff war with China, the Trump Administration had at last been contemplating a compensatory payment of $2 per bushel for soybean, 4 cents per bushel for corn and 63 cents per bushel for wheat [1 US bushel= 146 US legal cups, 1 US legal cup=16 US tablespoon].

In fact, latest imbursement for US farmers came forth as a part of a $20 billion package, that White House had been considering as a supplement to ease farmers’ losses from the trade war with China, a Tuesday’s (May 21st) Bloomberg report revealed.

Earlier this month, while China and United States had been at the verge of intensifying their 10-month long tariff battle, US President Donald Trump had sent directives to US Department of Agriculture to work on an aid-plan to curb losses for the US farmers.

Meanwhile, latest negotiations between Washington and Beijing had dramatically spiked an acrimony following retaliatory tariffs from both United States and China on each other’s imports and US agricultural sector would likely to witness further battering ahead, as Chinese importers had recently cancelled orders of thousands of tons of US pork.