Trump approves second round of trade aid payments for U.S. farmers

WASHINGTON (Reuters) – U.S. President Donald Trump said on Monday he has authorized the second round of payments from a $12 billion aid package for farmers stung by the U.S. trade war with China, but did not specify an amount.

“Today I am making good on my promise to defend our Farmers & Ranchers from unjustified trade retaliation by foreign nations. I have authorized Secretary Perdue to implement the 2nd round of Market Facilitation Payments,” he said in a Twitter post.

The U.S. Department of Agriculture in July had authorized up to $12 billion in aid for farmers and ranchers hit by the fallout from Trump’s escalating trade war with China and the agency outlined the first round of payments.

An announcement on the second tranche had been expected in early December.

China had imposed a 25 percent tariff on American soybeans in July in retaliation for U.S. tariffs on Chinese goods.

Trump had promised the payments to farmers stung by the trade disputes.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.