There are still unknowns on USDA’s aid package, but North Dakota Senator John Hoeven confirmed with the Red River Farm Network Friday the Farm Service Agency met with state staff in Sioux Falls, South Dakota this past week to review details. “The aid is in three components. Through FSA, there will be assistance for the different crops. FSA is working that out right now on how that would work. For example, on soybeans we’re looking like a $1.65 a bushel. The price of soybeans is hovering around $8.50 to $9 and then, in essence, get a payment of $1.65 above that. For your title one crops, it’s a payment and that will be administered by FSA.” Hoeven explains tariffs fund USDA’s aid package. “Just do the math. President Trump’s latest proposal is a 25 percent tariff on $200 billion of Chinese goods. That’s $50 billion. One third goes to the CCC program. One third of $50 billion is about $15 billion. That would more than pay for the aid. Just that one tariff.”
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