There could be a third round of trade-loss payments made to U.S. farmers despite the signing of a phase one trade deal with China.
U.S. agriculture secretary Sonny Perdue said late last week that the third round of market facilitation program payments could be issued soon, depending upon actions by the federal Office of Management and Budget.
Perdue, however, also said farmers shouldn’t expect payments beyond the $28 billion already approved.
Two rounds already have been released to help American farmers who suffered financial losses because of the U.S.-China trade war that resulted after the Trump Administration increased import tariffs last year on a wide range of Chinese products. China retaliated by halting purchases of U.S. products, with American farmers taking much of the brunt of those actions.
As part of the phase one agreement, Administration officials have said China has committed to make $40 billion in U.S. agriculture purchases during the next two years.