U.S. President Donald Trump on Monday announced a $12 billion aid package aimed at supporting American farmers affected by his trade policies and ongoing tariffs.
Speaking at the White House, Trump said the funds come from a “small portion of the hundreds of billions of dollars” collected from tariffs, adding that American farmers are “the backbone of our country.”
The aid includes up to $11 billion for a newly designed Farmer Bridge Assistance programme to support row crop farmers hit by trade disputes and rising costs, while the remaining $1 billion will be used for other crops, with specific allocations still being determined.
Farm groups and Republican lawmakers from farm states have pushed for such assistance, citing losses from record harvests and lost soybean sales to China, which shifted to South American suppliers amid stalled trade negotiations.
According to estimates from the Food and Agricultural Policy Research Institute at the University of Missouri, net farm income could drop by more than $30 billion in 2026 due to reduced government payments and lower crop prices. U.S. farmers are set to receive nearly $40 billion in government payments this year, supported by ad-hoc disaster and economic aid.
During his first term, Trump provided approximately $23 billion in assistance to farmers affected by his trade measures.
Canadian Finance Minister Francois-Philippe Champagne chaired a virtual meeting of G7 finance ministers on Monday, focusing on key issues surrounding ...
U.S. President Donald Trump on Monday announced a $12 billion aid package aimed at supporting American farmers affected by his trade policies and ongo...
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