Trump to announce $12 billion farm aid package at roundtable
President Trump is set to unveil a $12 billion farm aid package aimed primarily at crop farmers during a White House roundtable. Most of the funding, $11 billion, will be allocated as one-time payments under the Farmer Bridge Assistance program, while the remainder will support farmers outside this program. Secretary Rollins indicated that the need for assistance stems more from current administration policies than from previous tariffs. This comes amid ongoing challenges faced by the agricultural sector, with some farmers expressing a preference for trade over aid. The announcement is anticipated to address the current economic uncertainty in farming, especially for row crop producers.
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The roundtable is scheduled for 2 p.m. ET and will include Treasury Secretary Scott Bessent and Agriculture Secretary Brooke Rollins, alongside various farmers from key crops like corn and soybeans.
Rollins suggested that the Biden administration's policies have exacerbated the challenges faced by farmers, rather than the impact of Trump's tariffs.
Despite the aid, some farmers, like Mark Read from the Illinois Soybean Association, have voiced a desire for free trade over government assistance, highlighting a significant sector sentiment.
Rollins previously referenced a 'time of uncertainty' in the agricultural economy, acknowledging challenges posed by tariffs and other market fluctuations.
The aid package's announcement follows a period where China resumed soybean purchases from U.S. farmers, indicating some positive movement amid trade tensions.