As expected, House Democrats included funding for trade war payments to farmers and ranchers in a stopgap funding bill, released Wednesday, to keep the government running until Nov. 21.
The Trump administration enabled multimillion-dollar payments to some large operators in this year’s round of trade war payments by obliterating the usual limits on farm subsidies, said the president of the National Farmers Union on Thursday.
More than 9,000 people living in the largest U.S. cities received thousands of dollars in Trump tariff payments intended to mitigate the impact of the trade war on U.S. agriculture, said the Environmental Working Group on Thursday.
Agricultural lenders expect farm income, which weakened in the spring, to continue to decline this summer, although a recent rally in corn, soybean, and wheat prices will act as a stabilizer, said Federal Reserve banks in Kansas City, Minneapolis, and St. Louis on Thursday.
The Trump administration has spent notably less than commonly described on its package to mitigate the impact of the trade war on 2018 agricultural production. This year’s version may come closer to the $16 billion maximum trumpeted by the president because of more accommodating payment rules.
On Thursday, hours before the second-largest U.S. farm group said producers “are in desperate need of a lifeboat to keep them afloat,” the House Agriculture chairman said that fiscal constraints would preclude Congress from a multibillion-dollar bailout for farmers.
With the USDA purposely stretching out its purchases of food for donation, its outlays to mitigate the impact of trade war on U.S. agriculture will rise slowly in the months ahead. Roughly $8.8 billion has been spent since last fall with the bulk of it, $8.1 billion, on Trump tariff payments to …