King Applauds Trump’s $12 Billion Assist to American Agriculture
President Trump is Honoring Personal Promise to King to Hold Agriculture Harmless
Washington, D.C.- Congressman Steve King, a member of the House Agriculture Committee, releases the following statement applauding the Trump Administration for taking action to address the economic harm that unjustified trade retaliation is causing to the farm economy. The United States Department of Agriculture (USDA) announced this afternoon that it would be making up to $12 billion in assistance available to farmers who have experienced recent market disruptions. This amount more than offsets the expected $11 billion impact of foreign retaliatory tariffs on American goods. Importantly for the 4th District, the USDA assistance will specifically benefit producers of field crops like corn and soybeans, and livestock products like pork. Congressman King views today’s announcement as the President confirming his intent to deliver on a promise he personally made to King to hold agriculture harmless as he worked on addressing foreign trade.
“President Trump personally promised me that agriculture would be held harmless as he worked on trade, and today’s announcement of $12 billion in USDA assistance for disrupted markets confirms his intention to keep his promise to me,” said King. “Importantly, the USDA intends to use a Trade Promotion Program to develop new export markets for American agricultural products. These new export markets will remain when the current disputes over trade are settled on terms more favorable to American producers. I applaud the Administration for taking this needed action, and I am confident that President Trump, Secretary Perdue, and Ambassador Branstad are all working diligently to open China’s markets to greater trade in Iowa’s agricultural products.”
The USDA will use the following programs to assist farmers:
- The Market Facilitation Program, authorized under The Commodity Credit Corporation (CCC) Charter Act and administered by Farm Service Agency (FSA), will provide payments incrementally to producers of soybeans, sorghum, corn, wheat, cotton, dairy, and hogs. This support will help farmers manage disrupted markets, deal with surplus commodities, and expand and develop new markets at home and abroad.
- Additionally, USDA will use CCC Charter Act and other authorities to implement a Food Purchase and Distribution Program through the Agricultural Marketing Service to purchase unexpected surplus of affected commodities such as fruits, nuts, rice, legumes, beef, pork and milk for distribution to food banks and other nutrition programs.
- Finally, the CCC will use its Charter Act authority for a Trade Promotion Program administered by the Foreign Agriculture Service (FAS) in conjunction with the private sector to assist in developing new export markets for our farm products.