The Donald Trump administration plans to unveil on Monday a long-awaited $12 billion financial rescue package for U.S. farmers struggling under the combined weight of low market prices and the impact of the president’s own tariff policies.
Details Of The Aid Package
According to a Bloomberg report citing an administration official, the bulk of the aid, as much as $11 billion-will be provided as a one-time payment to row-crop farmers under the USDA’s newly created Farmer Bridge Assistance program. The balance of the funds is earmarked for crops that are not part of that particular program.
The aid is intended to shore up an important political base that has seen export markets dry up during Trump’s second term.
Trump will announce the aid with Treasury Secretary Scott Bessent and Agriculture Secretary Brooke Rollins at an event that includes producers representing a broad range of commodities, from corn and soybeans to cattle.
Benzinga has reached out to the White House and the USDA for confirmation on the reported package, but has not yet received a response.
Political And Economic Pressures
The move comes amid increasing frustration among Republican lawmakers ahead of the midterm elections next year, regarding the economic squeeze facing rural communities.
Farmers currently face a severe cost-price squeeze, fighting crop prices that are lingering near 2020 lows while trying to meet higher input costs for items such as fertilizer.
This latest move mirrors the strategy of Trump’s first term, as his administration provided $28 billion in aid during a similar trade spat with China.
The China Factor
The trade war with China has been a primary driver of agricultural economic pain.
According to Bloomberg, soybean farmers saw extreme pressure when Chinese purchases completely came to a halt earlier this year.
While China has, since an October agreement between Trump and Xi Jinping, gradually ramped up buying, current export volumes remain far behind the targets agreed upon.
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