(IARN) — President Donald Trump took to Twitter again to talk trade. There have been questions on the possibility of more trade aid distribution this year, with the president seemingly saying it’s a possibility. “If our formally targeted farmers need additional aid until such time as the trade deals with China, Mexico, Canada, and others fully kick in, that aid will be provided by the federal government, paid for out of the massive tariff money coming into the USA,” he said in a Friday Tweet. However, some reports say Trump isn’t technically accurate when he says the aid will come out of tariff income. The money comes from the Commodity Credit Corporation, which was set up back in the 1930s as a way to distribute aid to farmers. The CCC is a division of the U.S. Department of Agriculture. It has a line of credit set up at the Treasury Department that Congress replenishes.
Ag Secretary Sonny Perdue has told farmers recently to not expect more trade aid in 2020. The Trump Administration has already paid out a total of $28 billion in trade aid by way of payments to farmers, trade promotion, and purchases from food items for distribution to food shelves across the country.
Story courtesy of the Iowa Agribusiness Radio Network.
Photo from KIWA Image Archive