President Trump announced a 19 billion financial rescue package for farmers. This package will support the US agriculture industry as it faces a massive economic downturn due to coronavirus. The program will comprise direct payments to American farmers, ranchers, and producers.

The USDA (U.S. Department of Agriculture) will be buying crops and livestock from farmers and ranchers that are currently encountering an alarming drop in orders and a huge supply chain disruption. The funding will be taken from the $2.2 trillion coronavirus economic relief bill and various other USDA funds for supporting commodity prices.

USDA will be doling out $16 billion to farmers and ranchers in the form of direct grants in a bid to counterpoise the short-term decline in demands and oversupply triggered by the coronavirus pandemic. Aside from that, the department will spend $3 billion to purchase fresh produce, meat, and dairy and distribute it to various charities, community organizations and food banks.

While announcing the program during a Friday briefing at the White House, Trump pointed out that there's no dearth of great people in America, adding that they do what they have to do. He told that these people never complain, The Hill reported.

The coronavirus food aid programs are an attempt to amend the economic collapse and social disruption caused due to the pandemic unsettles grocery supply lines and creates massive imbalances across the food industry. With schools and restaurants shutting down, Americans are left with no choice but to cook larger portions of meals, meaning some products remain unsold and distributors need to redirect food as soon as they can.

Some farmers have been asked to either let the produce rot in the field or get rid of oversupplies of milk, while the virus breakouts in meat processing factories have triggered concerns about meeting the skyrocketing demand for store-ready meats such as chicken, pork and beef.

Talking about the wholesome food that Americans depend upon and starts with the country's farmers and ranchers, at a White House briefing, Agriculture Secretary Sonny Perdue said American agriculture has been hit hard by the pandemic. Perdue stated that President Trump is making sure that the farmers and all Americans get through this crisis.

Perdue noted that schools and restaurants unlikely to reopen soon, farmers in many places have been left with no choice but to destroy their produce. An updated economic report that was published earlier this month suggests American farmers who have already been affected by U.S. trade disputes are likely to lose $20 billion this year.