The Trump administration anticipates it will be ready to announce an aid package for American farmers within two-and-a-half weeks, as well as a deal on Chinese soybean purchases.
Ag Secretary Brooke Rollins made the announcement this week but didn’t provide further details.
Reuters reported that the administration has said for months it would issue assistance for U.S. farmers ravaged by low crop prices and trade disputes.
“We’ll have an announcement probably in the next week or two on what that’s going to look like,” Rollins told CNBC. But AgWeb’s Monthly Monitor found a divided view on the benefits of trade aid.
Economists responding to the Monitor agreed on two things.
One is that U.S. agriculture has become too reliant on ad-hoc payments. They say repeated aid packages distort land values, cash rents, equipment purchases, and overall decision-making.
Number two is that they all agree that aid payments will keep fertilizer prices high.
