Government Shutdown Delays Vital Support for Farmers
A crucial support package for farmers, impacted by trade disputes, was postponed due to a government shutdown. The U.S. Treasury Secretary noted the plan involves direct subsidies to assist farmers until the next harvest season. He also anticipates the return of Chinese soybean buyers.
The announcement of a support package aimed at assisting farmers affected by trade disputes has been delayed. This setback is due to the ongoing U.S. government shutdown, as confirmed by Treasury Secretary Scott Bessent on Thursday.
Bessent revealed on Fox News' 'Ingraham Angle' program that the plan includes providing direct subsidies to farmers. He emphasized the importance of ensuring farmers receive necessary credit to sustain operations until the next planting season.
Additionally, Bessent expressed optimism regarding Chinese buyers resuming purchases from U.S. soybean farmers by the end of the season, which would offer some relief to the sector.
(With inputs from agencies.)
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