McLean County Farm Bureau

USDA RELEASES TRADE DAMAGE ESTIMATE CALCULATIONS –

USDA’s Office of the Chief Economist recently published a report on how trade damages were estimated for the 2019 Market Facilitation Program (MFP). Estimated 2019 gross trade damages for U.S. commodities affected by retaliatory tariffs from China, India, the European Union and Turkey were developed based on the trade model established in 2018. According to USDA, gross trade damages are the total amount of expected export sales lost to the retaliatory partner due to the additional tariffs. These, in turn, confirmed the commodity payment rates. View the full report here. (FarmWeekNow)