Perdue: Chance Of More Trade Aid 'Less Than 10%'
By Mike Dorning
U.S. Agriculture Secretary Sonny Perdue sees a “less than 10%” chance that U.S. farmers will get another round of trade aid this year, despite a tweet from President Donald Trump last month raising the possibility.
Weak prices for many farm goods despite Trump’s initial trade deal with China have stoked calls for a new round of assistance for farmers, including from the top-ranking Republican on the House Agriculture Committee, Mike Conaway of Texas.
“Unless something gives here very soon,” Conaway told Perdue during an appearance before the committee on Wednesday, another round of trade aid will be “absolutely vital to the survival of our producers.”
Trump already authorized a $28 billion bailout to cover trade-war losses in 2018 and 2019 for farmers, a key political constituency for the president as he seeks re-election this year. But the program has been controversial, with a price tag more than twice as large as the ultimate cost of the auto bailout after the 2008 financial crisis.