Agriculture Secretary Sonny Perdue on Monday announced the details of the administration’s $12 billion retaliatory tariff relief plan. While the package is welcome relief from the battering farmers and ranchers are taking in the ongoing trade war, the real solution is more export markets for U.S. agricultural goods, according to AFBF President Zippy Duvall.
The tumbling livestock and crop prices that have followed tariffs imposed by China and other countries come on top of nearly five years of falling commodity prices that have led to lower revenues and higher debt levels for farmers and ranchers, Duvall noted in a statement.
“The additional burden of tariffs on the goods we sell to China, Canada, Mexico and the European Union has been more than many farmers can bear. The aid announcement gives us some breathing room, but it will keep many of us going only a few months more. The real solution to this trade war is to take a tough stance at the negotiating table and quickly find a resolution with our trading partners,” Duvall said.