USDA announces trade assistance details, US farmers to receive f - FOX34 Lubbock

USDA announces trade assistance details, US farmers to receive financial relief

LUBBOCK, Texas -

As the Trump Administration continues trade negotiations with China the USDA recently announced details of trade assistance for U.S. Farmers. 

The Market Facilitation Program is in the works to give back to U.S. producers. The program will reimburse producers in an effort to offset the ongoing tariffs, which some producers say is critical in providing relief in the coming months. 

"It is causing some challenges within the agriculture marketing community. By example, other countries is where China is sourcing some of their ag commodities and so that challenges our ability to export current commodities within the U.S.," Kody Bessent, Vice President of Operations and Legislative Affairs with Plains Cotton Growers, said. "It challenges our market shareability from a long-term basis. That's why we need to exonerate and continue to have long, good fair trade deals."

The USDA released details of the plan its been working on since May. Payment rates for producers range from $15 to $150 per acre, depending on the impact of trade retaliation in that county. 

"You know we've seen for the last three consecutive years, we've seen the farm economy relatively decline almost 50 percent compared to where we were five years ago," Bessent said. 

He said it will also help President Trump as he works to address better and stronger trade deals. 

"It also gives the administration the ability to continue to negotiate for a fair, free trade agreement with China and other countries without the expense of producers in that process," he said. 

The program's aimed to assist farmers across the country, but producers here in West Texas seem especially grateful. 

"We're very appreciative and very supportive of the administration standing by their initial word of standing by our producers while they continue to negotiate from a position of strength to get a fair and equitable trade deal with China," Bessent said. 

Sign up for the MFP starts July 29 through December 6.

Details on the MFP can be found here or contact your local FSA office.

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