President Donald Trump on Monday plans to announce a $12 billion relief assistance package for farmers, according to a White House official who spoke on the condition of anonymity to discuss plans that haven’t yet been made public.
The group, a key segment of the president’s base, faced fallout from Trump’s tariff policies, which have heavily impacted the American agriculture sector.
Trump will hold a roundtable event Monday to discuss the aid package alongside farmers, lawmakers, Treasury Secretary Scott Bessent and Agriculture Secretary Brooke Rollins, the White House official said.
According to the official, up to $11 billion of the aid will go to the Agriculture Department’s new Farmer Bridge Assistance program, created to support American crop farmers. The remaining $1 billion will go toward aid for commodities that the FBA does not cover. Congress would still need to approve the deal, but lawmakers — especially from agriculture-heavy states — have been clamoring for such a move.
Farmers nationwide have been grappling with low crop prices and challenging tariffs that have pushed many into bankruptcy. As The Washington Post reported in October, about 181 farmers filed for bankruptcy protection in the first half of the year, a 60 percent increase from the previous year and the highest six-month reading since 2020, according to U.S. court records.
Earlier this spring, Trump’s tariffs on China prompted the country to halt purchases of U.S. soybeans. Then, the president offered a $20 billion bailout to Argentina, whose soybean crop sales to China have replaced those from U.S. farmers. Later, Trump announced that the United States would buy beef from Argentina to bring down prices for U.S. consumers, opening a new rift between Trump and cattle ranchers.
Trump’s commitment to helping Argentina and its embattled president, Javier Milei — a political ally — appeared at odds with his “America First” policy platform, raising rare objections from some in his base, even as many say they still trust Trump to act in their best interest.
The new assistance package is particularly aimed at helping soybean farmers, who have seen a precipitous drop in sales this year, leaving them with extra supply, as the price of soybeans fell.
After trade talks with Chinese leaders in late October, the Trump administration said China promised to resume purchases of soybeans and would increase its 2026 soybean purchases.
David J. Lynch contributed to this report.
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