By Jamie Martin
Reports from The Wall Street Journal indicate that President Trump is preparing a multi-billion-dollar aid package for U.S. farmers, valued between $10 billion and $14 billion. The initiative aims to offset the financial losses that agricultural producers continue to face amid trade tensions with China.
The administration is exploring options to use tariff revenues to fund the program, and distribution could begin within months. The aid package would target soybean producers and other sectors of the farm economy hit hardest by the trade dispute. However, White House officials have emphasized that discussions are ongoing, and no final decisions have been made.
“President Trump and Secretary Rollins are always in touch about the needs of our farmers, who played a crucial role in the President’s November victory,” said White House spokeswoman Anna Kelly. “He has made clear his intention to use tariff revenue to help our agricultural sector, but no final decisions on the contours of this plan have been made.”
During Trump’s first term, U.S. farmers suffered significant losses when China cut soybean imports after tariffs were imposed. The government provided roughly $23 billion in compensation at that time. Although exports later rebounded, China has strengthened agricultural partnerships with South American nations, especially Brazil, reducing its dependence on U.S. soybeans.
According to Treasury Secretary Scott Bessent, farmers can expect an announcement about “substantial support” as soon as Tuesday. “It’s unfortunate that Chinese leadership has decided to use American soybean farmers as a hostage or pawn in the trade negotiations,” Bessent told CNBC. He added that the administration plans to ensure producers have the financial support needed for the next planting season.
Bessent also hinted at a “big breakthrough” in U.S.–China trade discussions following the upcoming meeting between President Trump and Chinese President Xi Jinping in South Korea later this month. Trump confirmed that soybeans will be a major topic, stating, “The Soybean Farmers of our Country are being hurt because China is, for ‘negotiating’ reasons only, not buying.”
Photo Credit:gettyimages-d-keine
Categories: National