USDA Details Trade Damage Estimate Calculations

USDA Details Trade Damage Estimate Calculations
Photo Credit:AgView | Story Source: NAFB

The Department of Agriculture Thursday released details of the trade aid package calculations for payments, a method previously unknown and questioned by some ag sectors. As the Trump Administration talked with lawmakers on the trade package, Agriculture Secretary Sonny Perdue released a “detailed accounting” of how USDA calculated estimated damage from trade disruptions. 

 

Perdue says the Chief Economist office of USDA developed an estimate of gross trade damages for commodities with assessed retaliatory tariffs by Canada, China, the European Union, Mexico, and Turkey to set commodity payment rates and purchase levels in the trade mitigation package announced by USDA earlier this month. Perdue says USDA used the same approach often used in World Trade Organization trade dispute cases. The full description of the Trade Damage Estimation for the Market Facilitation Program and Food Purchase and Distribution Program is available here.

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