USDA recently provided further information on the actions it will take to assist farmers in response to trade retaliation imposed by foreign nations. More details are included in this USDA news release and Farm Journal's PORK.
As noted in the USDA release, $200 million will be made available to help U.S. agricultural exporters identify and access new markets through the Agricultural Trade Promotion Program (ATP) administered by the USDA Foreign Agricultural Service. In this audio report, Greg Hanes, U.S. Meat Export Federation (USMEF) vice president for international marketing, explains how a portion of this funding may be utilized to bolster U.S. red meat exports.
While Mexico (pork), China (pork and beef) and Canada (cooked/prepared beef) are the three trading partners that have imposed retaliatory duties on U.S. red meat, Hanes says the ATP appears to offer flexibility in determining where promotional funding will be used, which will be helpful in maximizing the positive impact on U.S. exports.
More details on the ATP were published in the Aug. 30 Federal Register.