US farmers receive $7.7 billion in trade aid to date

Greg Porth harvests soybeans on October 2, 2013 near Worthington, Minnesota.
Scott Olson | Getty Images News | Getty Images

U.S. Department of Agriculture has paid out $7.7 billion so far to farmers, William Northey, Undersecretary for Farm Production and Conservation, said on Friday, in aid designed to offset the negative impact of tariff imposition.

The administration of President Donald Trump has pledged up to $12 billion in aid to help offset losses for crops hit by retaliatory Chinese tariffs imposed in response to Washington's tariffs on Chinese goods.

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  • Liu has been named a "special envoy" to Chinese President Xi Jinping, meaning he has the authority to negotiate directly on trade matters with the U.S.
  • The meeting between Liu and Trump comes as the two countries try to strike a trade deal before the start of next month.