MEMPHIS, Tenn. – The National Cotton Council is thankful for the Trump Administration’s plan to assist U.S. farmers and ranchers facing trade disruptions from retaliation tariffs.
USDA announced today that up to $12 billion would be provided to farmers and ranchers under the plan that includes: a Market Facilitation Program, a Food Purchase & Distribution Program, and a Trade Promotion Program. USDA senior officials said payment calculations and other details of the plan would be provided in a few weeks.
NCC Chairman Ron Craft, a Plains, Texas, ginner, stated, “We support the Administration for taking this interim action to help at least partially offset impacts until better trade relationships can be restored and improved. The negative effects of the retaliatory tariffs are being felt at multiple points in the U.S. cotton and cottonseed industry from the farmgate on through the distribution and marketing channels. Our industry thanks Agriculture Secretary Perdue for exercising his authority to provide this much needed relief.”
The Memphis-based NCC’s mission is ensuring the ability of the U.S. cotton industry’s seven segments to compete effectively and profitably in the raw cotton, oilseed and U.S.-manufactured product markets at home and abroad.