"US President Donald Trump has announced a $12bn aid package for farmers, offering financial assistance to a core part of his political base that has been hit hard by falling crop prices and the impact of his trade policies. Unveiling the plan at the White House in Washington, DC alongside Agriculture Secretary Brooke Rollins and several farmers on Monday, Trump said: Maximising domestic farm production is a big part of how we will make America affordable again and bring down grocery prices."
"Rollins said the Farmer Bridge Assistance programme's initial phase would provide $11bn for row crop farmers those who cultivate crops such as corn, soya beans and cotton in rows. An additional $1bn has been earmarked for farmers who grow some speciality crops not covered by this. The aid money is expected to be made available by the end of February."
A $12bn aid package provides financial assistance to US farmers, allocating $11bn for row crops and $1bn for certain specialty crops. Funds are expected to be available by the end of February, with disbursements beginning February 28. Money will be made available from tariff revenues and is intended to offset falling crop prices and higher input costs linked to trade policies. The USDA will calculate per-acre payments using a production-cost formula. Payments will be capped at $155,000 per farm or individual, and eligibility is limited to farms earning less than $900,000 annually to prioritize smaller producers.
Read at www.aljazeera.com
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