USDA to buy $1.2B in goods, offer $5B in aid to farmers hurt by trade war

The federal government will spend up to $1.2 billion to buy products from farmers hurt by the retaliatory tariffs from China and other countries, and will provide almost $5 billion in payments to farmers, the U.S. Department of Agriculture announced Monday. The purchases and payments are part of an emergency temporary aid package for farmers that was announced in July to provide relief for producers who were hurt by the trade war with China and other countries. The government said it could spend up to $12 billion to offset the estimated damages from tariffs placed on U.S. goods as retaliation for tariffs President Donald Trump announced against China and other countries. The spending announced on Monday only represents the first phase of aid....MORE

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