With farm margins under pressure, USDA is expected to roll out long anticipated tariff assistance soon.
That’s Undersecretary for Farm Production and Conservation Richard Fordyce during his Senate confirmation hearing this year. Fordyce says USDA is adding up farm losses as the department prepares aid to help offset tariff losses.
Ag Secretary Brooke Rollins recently detailed to Fox News where the aid will be headed.
The Midwest, Mid-South, and Southwest are under the most severe financial stress, according to Farm Journal’s November Ag Economists’ Monthly Monitor.
Farmers have lost billions in the trade war with China, and Rollins says that while the emergency aid will help, the long-term goal is better markets.
Many ag economists are telling the Monthly Monitor that the crop sector is in recession, while major farm groups warn that without action, the long-term viability of many farms is at risk.
