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NCC: Cotton Industry Appreciates Trade Assistance Plan

NCC: Cotton Industry Appreciates Trade Assistance Plan

The National Cotton Council appreciates the Trump Administration’s plan to assist U.S. farmers and ranchers facing trade disruptions from retaliation tariffs.

On July 24, USDA announced 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.

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USDA senior officials said payment calculations and other details of the plan would be outlined within a few weeks.

NCC Chairman Ron Craft, a Plains, TX, 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 farm gate on through the distribution and marketing channels.

“Our industry thanks Agriculture Secretary Perdue for exercising his authority to provide this much needed relief.”

 

Information provided by the National Cotton Council