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Coping to Trade Friction: USDA Plans to Purchase Fruits of Nuts Worth of USD400mln

Pubtime:2018-10-15Author:Source: Hits:

In the end of July, the Trump Government once announced to put forward a remedy measure, and provide emergency assistance as much as USD12 billion to help them cope to negative impact caused by traffic increase in trade frictions. Recently, the United States Department of Agriculture (USDA) announced one of the three plans in this measure – food purchase and distribution plan to help growers affected by trade frictions this year. The plan will spend about USD 1.2 billion in agricultural products, in which over USD400 million will be used to purchase fruits and nuts produced in the USA. Other two remedy plans of USDA contain market promotion plan (directly paid to grain and livestock farmers) and agricultural trade promotion plan. The latter will provide millions of US dollars to commodity promotion groups so as to help development and expand export sales.

USDA said the food purchase and distribution plan will purchase specific products under impact of tariff due to trade friction. The amount will be decided according to different losses of different products. The amount purchasing fruits and nuts is distributed as follows:

Pistachios: USD 85.2 million;
Walnuts: USD34.6 million;
Pecans: USD 16 million;
Macadamia nuts: USD 7.7 million;
Hazel nuts: USD 2.1 million;
Sweet corns: USD 2.4 million;