Senate Agriculture chairman Pat Roberts, Thune and Sen Steve Daines, Montana Republican, each suggested U.S. re-entry into the Trans-Pacific Partnership trade pact.
Nearly half of the $4.7 billion in Trump tariff payments will go to five midwestern states that are the largest soybean and hog producers in the country, said a farm group analysis on Tuesday.
President Trump dangled the possibility of terminating NAFTA, which generates one-third of U.S. food and ag trade, at the same time he announced a tentative trade agreement with Mexico on Monday.
President Trump’s promise to protect U.S. agriculture from retaliatory tariffs by China and other countries will be paid on the installment plan.
The payment rates for the farm aid were announced Monday.
The Trump administration will hear hours of testimony about its proposed 25% tariffs on $200 billion in Chinese products on Monday.
A small group of negotiators will write the final version of the $87-billion-a-year farm bill in the weeks ahead.
U.S. farmers will reap a record-large soybean crop in the middle of a trade war with China with no replacement buyer on the horizon.
Due to continued strong overseas demand, U.S. corn exports could be the second-largest ever this trade year, says USDA.
One in seven farmers who voted for President Trump in 2016 would not vote for him today, according to a poll released on Monday.