The Department of Agriculture has awarded $100 million through the Agricultural Trade Promotion Program to 48 organizations to help U.S. farmers and ranchers identify and access new export markets. All sectors of U.S. agriculture, including fish and forest product producers, were eligible to apply for cost-share assistance under the ATP. Applications were evaluated according to criteria such as the potential for export growth in the target market, direct injury from retaliatory tariffs, and the likelihood that the proposed project or activity will have a near-term impact on agricultural exports.
A USDA press release notes that President Trump has authorized up to $16 billion to help mitigate the effects of trade retaliation against U.S. farmers and exporters. In addition to the $200 million allocated to the ATP, this package includes the Market Facilitation Program to provide payments to farmers harmed by retaliatory tariffs and a food purchase and distribution program to assist producers of targeted commodities.
Copyright © 2022 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.