Weather Quotes DTN Ag Headlines Options Grain Soybeans News Corn News Cotton News Wheat News DTN Renewable Fuels Futures Markets
 Francis-Mustoe & Company
  About Us  
  Daily Markets  
  Historical Markets  
  Weekly Markets  
  Contact Us  
- DTN Headline News
Hoeven Hopes for Trade Aid in a Week
Wednesday, May 15, 2019 2:15PM CDT
By Jerry Hagstrom
DTN Political Correspondent

WASHINGTON (DTN) -- Senate Agriculture Appropriations Subcommittee Chairman John Hoeven, R-N.D., said Tuesday he hopes that within "a week or so" the Trump administration will announce a program of trade aid to farmers due to the Chinese tariffs on U.S. farm products.

Hoeven also said the trade aid could total more than the $12 billion that the administration allocated in the first round of trade aid spending this year, and could be as high as the $15 billion that President Donald Trump has mentioned.

Hoeven said the aid probably would be in the form of the Market Facilitation Payments and government purchases of farm products that was used in the first round of aid.

The money would come from the Commodity Credit Corporation, the USDA account that allows the department to spend up to $30 billion on aid to farmers each year. If the spending hits the $30 billion limit, Hoeven said, the supplemental appropriations disaster aid bill will provide more.

Under Section 32 of a 1930s law, the CCC gets $30 billion per year from tariff revenues, although the money flows through the appropriations process, he said.

Hoeven did not say whether the formula for payments to farmers would be different from the formula that was used for payments to farmers earlier this year. That formula benefited soybean growers the most because they were the biggest exporters to China. Producers of other commodities complained that it was not fair.

Hoeven said he has been "working on it [the aid package] aggressively for several weeks and spent last week at the White House lobbying."

The program is justified because "our farmers are being targeted by the Chinese," Hoeven said. The Chinese have imposed the tariffs on U.S. farm products in retaliation for the tariffs that the Trump administration has imposed on Chinese products.

Hoeven said he had talked to "everybody -- the president and the secretary of agriculture," but he declined to name any White House aides with whom he had been talking.

In the past, Mick Mulvaney, who headed the Office of Management and Budget and is now White House chief of staff, has been unenthusiastic about trade aid.

Hoeven said finishing a trade deal with China would still be the best outcome, but that there is no deal so far.


blog iconDTN Blogs & Forums
DTN Market Matters Blog
Editorial Staff
Friday, May 17, 2019 11:42AM CDT
Monday, May 13, 2019 11:16AM CDT
Friday, May 10, 2019 9:20AM CDT
Technically Speaking
Editorial Staff
Monday, May 13, 2019 8:08AM CDT
Monday, May 6, 2019 9:20AM CDT
Monday, April 29, 2019 8:22AM CDT
Fundamentally Speaking
Joel Karlin
DTN Contributing Analyst
Friday, May 10, 2019 5:29PM CDT
Wednesday, May 8, 2019 11:03AM CDT
Wednesday, May 1, 2019 11:15AM CDT
DTN Ag Policy Blog
Chris Clayton
DTN Ag Policy Editor
Friday, May 17, 2019 6:44AM CDT
Thursday, May 16, 2019 6:19AM CDT
Wednesday, May 15, 2019 6:35AM CDT
Minding Ag's Business
Katie Behlinger
Farm Business Editor
Friday, April 26, 2019 11:38AM CDT
Monday, April 22, 2019 12:54PM CDT
Monday, April 15, 2019 9:37AM CDT
DTN Ag Weather Forum
Bryce Anderson
DTN Ag Meteorologist and DTN Analyst
Friday, May 17, 2019 5:09PM CDT
Thursday, May 16, 2019 1:41PM CDT
Tuesday, May 14, 2019 4:24PM CDT
DTN Production Blog
Pam Smith
Crops Technology Editor
Friday, May 17, 2019 5:03PM CDT
Thursday, May 9, 2019 9:41AM CDT
Tuesday, May 7, 2019 2:25PM CDT
Harrington's Sort & Cull
John Harrington
DTN Livestock Analyst
Tuesday, April 16, 2019 11:17AM CDT
Friday, March 15, 2019 6:01PM CDT
Wednesday, February 20, 2019 5:17PM CDT
South America Calling
Editorial Staff
Tuesday, April 23, 2019 2:43PM CDT
Tuesday, April 9, 2019 2:22PM CDT
Wednesday, April 3, 2019 5:24PM CDT
An Urban’s Rural View
Urban Lehner
Editor Emeritus
Tuesday, May 14, 2019 3:12PM CDT
Wednesday, May 1, 2019 11:08AM CDT
Sunday, April 21, 2019 5:07PM CDT
Machinery Chatter
Dan Miller
Progressive Farmer Senior Editor
Friday, May 17, 2019 4:39PM CDT
Thursday, May 9, 2019 3:58PM CDT
Thursday, May 2, 2019 4:09PM CDT
Canadian Markets
Cliff Jamieson
Canadian Grains Analyst
Friday, May 17, 2019 4:23PM CDT
Thursday, May 16, 2019 3:56PM CDT
Wednesday, May 15, 2019 5:14PM CDT
Editor’s Notebook
Greg D. Horstmeier
DTN Editor-in-Chief
Wednesday, May 1, 2019 5:59PM CDT
Thursday, April 25, 2019 8:51AM CDT
Thursday, April 11, 2019 8:29PM CDT
Copyright DTN. All rights reserved. Disclaimer.
Our Disclaimer
Powered By DTN