The new tariff mitigation program announced Tuesday by the Trump Administration should provide badly needed economic assistance to dairy farmers facing significant financial losses, the National Milk Producers Federation said today.
The U.S. Department of Agriculture (USDA) announced today that it is preparing a $12 billion economic assistance program designed to help dairy farmers and other agricultural producers suffering from the effects of retaliatory tariffs imposed by Mexico, China and other key trading partners. NMPF’s economic estimates indicate that these tariffs will cost U.S. dairy farmers $1.8 billion just through the remainder of this year, based on the decline in milk futures prices since the retaliatory tariffs were implemented.
NMPF’s Chris Galen, SVP of Communications, tells us more on today’s Dairy Radio Now.
