President Trump Plans $12 Billion Farm Aid Package
By SEUNG MIN KIM, JOSH FUNK AND DIDI TANG, Associated Press
WASHINGTON (AP) â President Donald Trump is set to announce a $12 billion farm aid package to assist struggling farmers impacted by rising costs and tariffs as part of the ongoing trade war with China.
The aid package, scheduled to be unveiled at a White House roundtable, will include $11 billion for the U.S. Department of Agriculture’s Farmer Bridge Assistance program, offering one-time payments to farmers of row crops such as soybeans and sorghum.
The remaining funds will support farmers growing crops not covered under the bridge assistance program, providing certainty for the current harvest and planning for next year.
China Purchases Remain Slow
Despite promises from China to purchase U.S. soybeans, actual purchases have been below expectations, leading to the need for a “bridge payment” to support affected farmers.
President Trump has previously provided aid to farmers during trade disputes, allocating over $22 billion in 2019 and nearly $46 billion in 2020, which also included COVID-19 related assistance.
Amid soaring beef prices, Trump has taken steps to address the issue, including allowing more imports of Argentine beef and directing investigations into possible anti-competitive behavior in the food supply chain.
The executive order signed by Trump aims to examine and potentially regulate the seed, fertilizer, and equipment markets to ensure fair competition.
Associated Press writers Michelle L. Price, Bill Barrow, and Jack Dura contributed to this report.
