More aid is coming to US farmers as the government and Chinese counterparts ended another round of trade talks Friday without reaching a deal to end a worsening tariff war.
US Ag Secretary Sonny Perdue said Friday that he was instructed to draw up a plan. It would follow the USDA’s $12 billion farm assistance package in 2018. The money would come from the more than $100 billion generated by the tariffs, according to the White House.
Chinese purchases of US soybeans have dropped to a 16 year low with prices hitting 11 year lows amid the riff.
As of midnight Friday morning, US tariffs on some $200 billion in Chinese goods rose from 10% to 25%. China has said it would retaliate.
Source: http://time.com/5587231/trump-us-crops-china-trade-war/
