On May 23, U.S. Secretary of Agriculture Sonny Perdue announced another round of agricultural aid designed to offset the impact of retaliatory measures imposed by trading partners. This includes an additional $100 million to be issued through the Agricultural Trade Promotion Program (ATP) administered by the USDA Foreign Agricultural Service (FAS) to assist in expanding export markets. The first round of ATP funding, which totaled $200 million, was allocated earlier this year.
U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom issued the following statement:
The additional round of ATP funding is greatly appreciated, as U.S. red meat products and other agricultural exports still face significant obstacles in key international markets. ATP funding has been a valuable resource as USMEF works to defend U.S. market share and secure new customers in both established and emerging markets. We thank the Trump administration for recognizing the impact of current trade disputes and other trade barriers on U.S. agriculture, and we look forward to receiving more details about the latest round of ATP funding.
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