Small group of America’s big farms gets bulk of Trump bailout funds | Financial Times

Small group of America’s big farms gets bulk of Trump bailout funds | Financial Times

A tenth of US farm operators have received more than half the money from a federal bailout designed to offset the costs of the Trump administration’s trade battles, data show.

Some use legal loopholes to collect multiples of a $125,000 cap on payments.

The government had doled out $8.5bn ahead of last Friday’s application deadline for farmers, the US department of agriculture said. The White House launched the Market Facilitation Program in September after China, Mexico and other countries fought back against US tariffs by raising duties on American farm goods, depressing their price.

The payments reflect the farm sector’s political clout in Washington. No other US industry has received direct payments to relieve losses caused by tariffs.

via Small group of America’s big farms gets bulk of Trump bailout funds | Financial Times