President Trump, flanked by more than a dozen U.S. farmers at the White House, on Thursday announced a $16 billion farm aid package to offset losses from the U.S. trade war with China. “This support for farmers will be paid for by the billions of dollars the Treasury takes in” from China, Trump said. “This package insures farmers will not bear the brunt” of the trade wars, Perdue said. The aid package is the second bailout for farmers after the Trump administration announced $12 billion in emergency measures in July. The latest relief package will be paid to farmers in three installments, with the first payment in July or August.

Source: Washington Post May 23, 2019 15:06 UTC