The United States Government is set to announce a special commodity support program for farmers. An insider source disclosed that the US president, Donald Trump will flag off the plan Tuesday to direct billions of dollars to farmers hurt by the escalating trade war with China and other countries.
Prices of goods in the US have tumbled in recent times – no thanks to the ongoing trade wars. meanwhile, the proposal to stabilize the farmers proves that Trump’s import tariffs are having a negative impact on the agricultural sector. The Republican administration hopes to mitigate the short-term effects heading into the midterm elections.
Trump is set to visit Kansas City, Missouri, on Tuesday and will travel to Illinois and Iowa later in the week – all states that are beginning to see the impact of U.S. and retaliatory tariffs.
According to Politico, the administration’s plan will rely on commodity support programs in the farm bill as well as the Agriculture Department’s authority. This is hoped to stabilize the farmers during these times of turmoil.