Farmers said they wanted trade and not aid. Last week that is what they got. The Phase-One Chinese trade deal was signed and the United States ? Mexico ? Canada Agreement (USMCA) was passed through the Senate. So, what does this mean for the Market Facilitation Payments (MFP) that were authorized?
United States Department of Agriculture Deputy Secretary Steve Censky attended the Iowa Renewable Fuels Summit last week. During a small press conference, he was asked about the third tranche in the second round of the MFP payments. These payments were authorized last August and split up into three sections. Even though the trade deals are moving forward, the last payment installment is going to be coming as soon as they can get it approved.
Sometimes when we hear about a ?third round? of MFP payments, it gets confusing. The ?third-tranche? refers to the second round of MFP payments authorized by the government. Censky says that the effects the farmers were feeling in the latter half of 2019, need to still be made whole.
With the advancement of trade deals with China and Japan and the impending USMCA ratification in Canada, Censky is confident that there shouldn?t be the need for a third version of the MFP program.
Ag Secretary Sonny Perdue confirmed the third tranche of MFP payments saying, ?I?m counting on it, but we?ve got to get that allocated through OMB. But I see no reason why we can?t get that done.?
