The third and final tranche of the USDA 2019 Market Facilitation Program assists farmers suffering from lost income as a result of the trade war with China. American Farm Bureau Federation estimates that approximately $3.5 billion is expected to be delivered to farmers in this final distribution. The following statement may be attributed to American Farm Bureau Federation President Zippy Duvall:
“We are grateful to the administration for providing temporary assistance to American farmers who have lost tens of billions of dollars in export sales during the trade war.
“While the new agreement with China gives us hope, it will take time for farmers to reap the benefits of increased sales. The agreement hasn’t even taken effect yet and we’re hearing it could be delayed by the outbreak of the Coronavirus in China. So, these payments help farm families hold on through the uncertainty. The progress is clear and we look forward to recent trade agreements translating into sales of agricultural products.”
- The Market Facilitation Program’s three payments equal approximately $14.5 billion in direct payments to producers.
- $1.4 billion is spent on Food Purchase and Distribution Program.