Potential China Deal and MFP Payments
The second round of 2019 Market Facilitation Program payments aimed at assisting farmers suffering from damage due to the trade war with foreign nations is coming.
In some cases, the payments have already started going out this week.
Agriculture Secretary Sonny Perdue discusses how a first-phase trade deal between the U.S. and China could benefit producers in relation to current MFP payments.
"If we get a major trade deal on a major trade deal, the purchase quantities are double what they've ever bought before. Now the proof is in the pudding. We want to see the contracts. We won't see the orders, not just the commitment, but if we have China buying twice as much as they've ever bought before, that ought to move the markets. Farmers, while they have benefited and needed the market facilitation program. They really would rather have trade than aid in to some degree. The dichotomy of the emotions out there are farmers rather have the money from the scales in the mailbox, and that's why it's been sort of unfulfilling to some degree. We don't want to have to rely on them permanently."
President Donald Trump directed Secretary Perdue to craft a second relief strategy to support American agricultural producers while the Administration continues to work on free, fair, and reciprocal trade deals to open more markets to help American farmers compete globally.