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AG SEC'Y PERDUE PROVIDES UPDATE ON CHINA-U.S. RELATIONS
May 16, 2019
Agri-Pulse reports:
Agriculture Secretary Sonny Perdue is expressing confidence that U.S. farmers won't suffer any long-term damage from the Trump administration's trade war with China.
Speaking from South Korea on a conference call with reporters, Perdue said his optimism is based on the commitments China has made during negotiations with the U.S. The Chinese have agreed to a "significant increase" in their purchases of U.S. commodities, he said.
Perdue also confirmed that the administration is looking at providing $15 billion to $20 billion in additional trade assistance that will include direct payments as well as some purchases of commodities for international food aid.
He said USDA is looking at some possible changes in the way payments have been structured under the Market Facilitation Program that was created last year after China imposed retaliatory tariffs on U.S. exports. Perdue didn't provide any details of the possible changes beyond saying the department would seek to address the complaints it has received about the way the payments were calculated.
"We will look at the history of what happened with the program and try to learn from it," he said.
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