Trump Announces Aid For Farmers

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2020-04-18 HKT 09:01

Share this story

facebook

  • US President Donald Trump listens as US Secretary of Agriculture Sonny Perdue addresses the daily coronavirus task force briefing at the White House. Photo: Reuters

    US President Donald Trump listens as US Secretary of Agriculture Sonny Perdue addresses the daily coronavirus task force briefing at the White House. Photo: Reuters

President Donald Trump on Friday announced a US$19 billion financial rescue package to help the agriculture industry weather the staggering economic downturn sparked by measures to defeat the coronavirus.

Trump told a press conference the government "will be implementing a US$19 billion relief programme for our great farmers and ranchers as they cope with the fallout of the global pandemic."

The programme will include direct payments to farmers, ranchers and producers who Trump said have experienced "unprecedented losses during this pandemic."

Agriculture Secretary Sonny Perdue said US farmers have been hit hard by a sharp shift in demand, as schools and restaurants close and more Americans eat at home.

That has disrupted the food supply chain, forcing farmers in many places to destroy dairy output and plough under crops that no longer have buyers.

"Having to dump milk and plough under vegetables ready to market is not only financially distressing, but it's heartbreaking as well to those who produce them," Perdue said.

Perdue said some US$3 billion of the money would go to buying produce and milk from such farmers, and redistribute it to community food banks.

Millions of Americans have recently turned to food pantries for meals and groceries after losing their jobs.

The US farm and food industry has been hit in numerous ways by the coronavirus epidemic.

Farmers are having trouble finding seasonal labourers to prepare and harvest crops; some meatpacking plants have been hit hard by Covid-19 outbreaks.

But the change in the way consumers eat has had a huge impact.

"Shuttered schools, universities, restaurants, bars and cafeterias are no longer buying milk, meat, fruits, vegetables and other food, causing a downward spiral in crop and livestock prices," the American Farm Bureau said recently.

Perdue praised farmers, who have enjoyed billions of dollars in support payments over the past two years due to the impact of Trump's trade war with China, as "heroic."

"Our farmers have been in the fields planting and doing what they do every spring to feed the American people, even with a pandemic, as we speak." (AFP)

RECENT NEWS

US Stocks Rise On Hopes Of Pause In Rate Increases

Wall Street stocks finished solidly higher on Thursday, reflecting better sentiment on the US economy and a consensus vi... Read more

China's Financial Risks 'controllable': Regulators

The head of the National Financial Regulatory Administration on Thursday told a high-profile forum in Shanghai that the ... Read more

Banks Cut Yuan Deposit Rates, Could Boost Consumption

China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pre... Read more

Cheese And Wine Put EU, Australia Deal In Peril

Australia on Thursday threatened to walk away from a blockbuster free trade deal with the European Union unless its prod... Read more

US Stocks End Mixed As Tech Shares Are Sold Off

Gains by industrial companies lifted the Dow on Wednesday, while weakness among technology shares pushed the Nasdaq deci... Read more

Amazon 'plans Prime Video Streaming Service With Ads'

Amazon.com is planning to launch an advertising-supported tier of its Prime Video streaming service, the Wall Street Jou... Read more