Page 67 - May-June 2018 GSE Report Flip Book

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and resolve of American farmers, but the president does not. And he will not allow our agricultural producers to suffer because of China’s continued bad actions. (USA Today, Sonny Perdue, 06/26/18)
The Trump administration is looking at ways to use USDA’s Commodity Credit Corporation to offer a financial backstop for farmers to protect farmers if China implements tariffs on ag products. The CCC can borrow up to $30 billion from Treasury to support the ag sector, including livestock, row crops, fruit and vegetables farmers. The USDA could direct the CCC to purchase specific crops to support farmers’ revenues. Alternatively, the CCC could sell ag commodities to other government agencies and donate food to domestic, foreign or international relief agencies.
Alternatively, administration officials are also considering using “Section 32” funds to farmers to minimize the potential impact of Chinese tariffs on their crops. In the FY2018 March omnibus budget, Congress removed earlier restrictions on CCC activities.
“[President Trump] has directed the Secretary [of Agriculture] to use the authorities he has to protect farmers,” according to the USDA. “It wouldn’t be prudent to give away our playbook and let China know exactly how we would plan to mitigate what they have threatened,” said USDA Secretary Sonny Perdue. “But we can say this: we will not allow our agricultural producers to bear the brunt of China’s retaliation, as we defend our own interests as a nation.” (AgWeb.com, Jim Wiesemeyer, 06/20/18)
Blockchain: change is coming to agricultural supply chains
In a special report on the uses of blockchain technology in agriculture, CoBank’s Trevor Amne and Tanner Ehmke concluded:
• Agribusiness interest in blockchain, an emerging technology that permanently records transactions on a shared digital ledger, is rapidly growing.
• For the agricultural supply chain, blockchain technology promises increased efficiencies through enhanced data management, lower transaction costs, optimized logistics, more robust traceability, and enhanced food safety protocols.
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