Trump Unveils $12 Billion Farm Aid Amid Ongoing Trade Pressures

Benzinga

Trump unveiled a $12B farm-aid package funded by tariff revenues, with $11B going to a new USDA payment program for row-crop farmers and $1B reserved for market monitoring. Critics say tariffs raised input costs and shrank export markets, while China’s limited soybean buying remains far below prior levels.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03President Donald Trump announced a $12 billion aid package for farmers hurt by the ongoing trade war,

00:08saying the funds will come from U.S. tariff revenues.

00:11Up to $11 billion will fund the USDA's new Farmer Bridge Assistance Program,

00:16which will issue one-time payments to row crop farmers.

00:19The remaining $1 billion will be held as the agency monitors changing market conditions.

00:25Democratic lawmakers criticized the move,

00:27saying tariffs have increased fertilizer, equipment, and seed costs while limiting access to foreign markets.

00:33The administration said the support will help farmers adjust as it moves away from Biden-era economic policies.

00:39China halted U.S. soybean purchases for months and resumed limited buying in late October.

00:44But imports remain below prior levels as its stockpiles climb.

00:48For all things money, visit Benzinga.com.

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