Corn growers press Trump for better China trade aid treatment

News24
16 May 2019, 00:43 GMT+10

United States corn growers are pressing President Donald Trump for better treatment in his $15bn China trade aid plan, arguing they were short changed in the administration's $12bn assistance package last year.

The National Corn Growers Association sent out a call to action urging farmers to tell Trump that the 1 cent-per-bushel payment that growers received under the prior market facilitation payments wasn't enough. The campaign is being promoted with the hashtag #apennywontcutit.

"A penny didn't cut it then and won't cut it now," the trade group said in a notice to members posted on its website.

The trade war, bad weather and waivers the administration is issuing oil refiners on ethanol standards "have all created a perfect storm for agriculture".

American farmers are struggling to keep afloat as the tariff spat that started a year ago curbed soybean exports to top buyer China, sending prices tumbling and hurting grower incomes.

Victory awaits in China trade war, Trump tells farmers

As of Monday, the federal government had made $8.52bn in market facilitation payments to farmers under the prior trade assistance program.

On Friday, Trump announced in tandem with new tariffs on China an ill-defined plan to boost purchases of domestic farm products for humanitarian aid in an effort to offset lost demand from the Asian nation.

Agriculture Secretary Sonny Perdue said he is working on a plan and will submit it to the president within "a few days to a couple of weeks".

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Middle East Star.

More Information

null in null

International Business

Section

Shell rejects claim of early merger talks with BP

LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...

Trump-backed crypto project gets $100 million boost from UAE fund

LONDON, U.K.: A little-known investment fund based in the United Arab Emirates has emerged as the most prominent public backer of U.S....

Nifty, Sensex opened with gains on Trump's trade deal optimism, Q1 results in July to drive market further

New Delhi [India], July 2 (ANI): Indian stock markets opened on a positive note on Wednesday, supported by optimism surrounding a potential...

Indian Rupee likely to trade in 85.25-86.25/USD range; India-US trade deal to support currency: BoB Report

New Delhi [India], July 2 (ANI): The Indian rupee is expected to trade in the range of 85.25-86.25 against the US dollar in the near...

RBI appoints Kesavan Ramachandran as new Executive Director

New Delhi [India], July 2 (ANI): The Reserve Bank of India (RBI) has appointed Kesavan Ramachandran as Executive Director of RBI with...

Eurozone inflation rate reaches 2 pct in June

The inflation is driven by the price of services, which recorded a yearly inflation rate of 3.3 percent in June, up from 3.2 percent...

International

Section