New York launches tariff relief programme for farmers

New York farmers can start submitting applications for up to $25,000 in relief from the state as part of a $30 million aid effort aimed at easing the hit to farmers from Republican US President Donald Trump's tariffs, Democratic Governor Kathy Hochul said on Monday, reports Reuters.
Over the last year, Trump has imposed an array of tariffs, including a global 10 per cent tariff and retaliatory tariffs on China, which led Beijing to levy its own tariffs on US soybean exports.
"The tariffs imposed by the Trump administration are reckless and damaging to so many of our industries, including our agricultural producers, who rely so heavily on the forces of international markets," Hochul said in a statement.
"I promised to stand up and fight for our farmers and I'm proud that our Agricultural Resiliency Against Tariffs Program will provide the much-needed relief to New York's farmers who feed our communities."
The program, which will be funded by a $30 million allocation in the state budget, will grant direct payments starting at $1,000 to eligible agricultural producers, including dairy farmers and those working with livestock, specialty crops and aquaculture.
A study by North Dakota State University found tariffs on farmer cost inputs like chemicals, fertilizers and machinery generated about $958 million in federal revenue between February and October last year.
A large swath of Trump's tariffs was determined to have been illegal earlier this year by the US Supreme Court, and Hochul's move comes as US importers scramble to seek refunds. The administration is in the process of replicating many of the levies under more-tested legal authorities.
Hochul's office reported the state's farmers faced increased expenses of $20,000 annually and escalating costs on essential imports like grain and feed as a result of tariffs.