An export subsidy program may be broadened.
Faced with a steadily worsening picture for U.S. farm exports, the Reagan Administration is considering broadening its recently announced $2-billion export subsidy program, according to senators and farm group representatives. Participants in a meeting with Agriculture Secretary John R. Block and Budget Director David Stockman said the Administration would, within a few days, develop a plan that goes beyond the measured, targeted export aid that Block announced last week. The new estimate for agricultural exports is $33.5 billion, the lowest in six years and off 23% from the 1981 export peak of $43.8 billion. A separate internal department memorandum warned that “the outlook is getting worse” for American farm exports, with U.S. market share dropping in wheat, feed grains, rice, cotton and soybeans while competing countries pick up the slack.
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