On May 23, the Trump Administration announced its plan for tariff mitigation following the unjustified retaliatory tariffs imposed by China. Standing alongside President Trump in the Roosevelt Room of the White House was Donald Chase. Donald is a peanut farmer from Oglethorpe, Ga., and serves on the Board of Directors for the Georgia Peanut Commission.
The Administration's plan is a $16 billion aid program intended to help ease the impact of decreased agricultural purchases from China, one of the consequences of the trade war with Beijing. The aid will include $14.5 billion in direct payments to farmers through the market facilitation program. Peanut producers will be eligible for these direct payments. There will be three payment installments, starting in July. Additional payments will come in November and January as needed.
Georgia Peanut Commission Chairman Armond Morris stated, "Peanut growers are pleased that we were included in the Market Facilitation Program. The peanut industry needs a strong export market and we will continue to work with the Administration to expand our markets."
Another $1.4 billion will be allocated to the Food Purchase and Distribution Program to purchase surplus commodities affected by the trade war. Those goods will then be distributed to schools, food banks and other groups. The remaining $100 million will go to developing new export markets for American producers through the Agricultural Trade Promotion Program.
USDA will release details of these programs at a later date.