BATON ROUGE, La. (AP) — Louisiana’s farmers have collected more than $180 million from President Donald Trump’s multibillion-dollar bailout package for farmers hurt by the United States’ trade war with China.
The Advocate reports that U.S. Department of Agriculture figures show more than 75% of that aid went to Louisiana soybean farmers.
But some farmers say the program hasn’t been enough to cover their costs. They’re questioning whether they’ll continue to grow soybeans next year since the federal aid package isn’t offsetting all their losses.
Soybeans are a major agricultural product in Louisiana with a farm value of $800 million, second only to sugar cane.
China is the biggest buyer of American soy. The steep slump in soybean sales comes after China raised retaliatory tariffs for several U.S. agriculture products last year.
Information from: The Advocate, http://theadvocate.com