Texas farmers and ranchers impacted by retaliatory tariffs welcome the temporary relief measures announced today by the U.S. Department of Agriculture (USDA). A robust trade market, however, is still the ultimate goal, according to the president of the state’s largest farm and ranch organization.
USDA outlined $12 billion in relief funding for three programs to help farmers and ranchers hurt by market disruptions.
“This short-term funding will help farmers and ranchers who rely on export markets stay in business as the administration works to develop and obtain new markets,” Texas Farm Bureau President Russell Boening said.
The relief funding correlates to the estimated $11 billion impact current trade tensions have on U.S. agriculture.
The funding will be split between three USDA programs: Market Facilitation, Food Purchase and Distribution and Trade Promotion. The relief package is expected to be operational by Sept. 3.
“We appreciate the administration and USDA taking this action to support American agriculture, but certainly, farmers and ranchers would rather sell their products to domestic and export markets through good trade relationships,” Boening said. “We support the administration’s continued talks with our trading partners and look forward to both new and improved markets.”