Donald Trump.
US President Donald Trump on Monday announced a US $ 12 billion aid package for American farmers. This step has been taken to provide help to the sector affected by the tariff and trade dispute with China. Trump launched the scheme during an event at the White House, which was attended by Finance Minister Scott Besant, Agriculture Minister Brooke Rollins, several lawmakers and members of the farming community.
He said that the money for this package will come from government revenue derived from US tariffs. Announcing the financial assistance, he said that this relief will provide farmers with the certainty they need to get this year’s crop to market and prepare for next year’s crops, and will help them continue their efforts to lower food prices for American families.
Will be distributed by 28th February
Agriculture Minister Rollins said that farmers can apply for this money in the coming weeks and it will be distributed by February 28, 2026. According to officials, about US$11 billion in government aid has been set aside for the Agriculture Department’s Farmer Bridge Assistance Program, which will provide farmers with one-time payments for crops.
While outlining the administration’s support plan, Besant emphasized stability for producers planning ahead. You have to start financing to plan for next year, when things will be much better, he told CBS News on Sunday.
New Tariff Retaliation
This announcement has been made at a time when farmers have lost billions of dollars in revenue from soybean this year due to the boycott by China. China halted purchases in May in retaliation for new tariffs imposed by the Trump administration. According to the Iowa Farm Bureau, China has been the largest buyer of US soybeans, purchasing more than half of US exports over the past five years.
US soybean sales to China
Trump and Chinese President Jinping reached a preliminary trade deal in October, which the White House said includes resuming sales of US soybeans to China. Officials said in November that China would buy at least 12 million metric tons of soybeans in the last two months of 2025. However, Chinese imports may still fall below normal levels.
Big loss on corn, soybean and cotton
The trade dispute has exacerbated existing challenges for American farmers, who were already facing rising costs and shrinking profit margins. Farmers told CBS News that with crop prices declining over the past two years, they are facing big losses on corn, soybeans and cotton, according to American Farm Bureau Federation data.
Besant said on CBS News that domestic soybean prices have increased by 15% since the agreement with China. The administration began considering a financial relief package for farmers in October, which sources told CBS News could include more than $10 billion in aid.