Category: Agriculture
Trump gives American farmers $12 billion boost to overcome inflation, trade wars
President Donald Trump will unveil a significant investment in America’s agricultural industry, the White House confirmed on Monday.
Trump will be joined by Treasury Secretary Scott Bessent, Agriculture Secretary Brooke Rollins, and members of Congress at a roundtable event on Monday to announce $12 billion in economic assistance to United States farmers.
‘Our farmers … will have the support they need to bridge the gap between Biden’s failures and the president’s successful policies taking effect.’
The U.S. Department of Agriculture’s new Farmer Bridge Assistance program will receive up to $11 billion of the funds to provide one-time bridge payments to farmers of row crops, which include corn, soybeans, wheat, rice, and cotton. These farmers have been impacted by market disruptions, including years of foreign trade actions and high inflation, a White House official noted.
The remaining $1 billion will be allocated toward crops not included in the FBA program, such as fruits, vegetables, and other specialty crops. However, the details of those allocations are still being evaluated based on market conditions.
At the earliest, farmers are reportedly set to begin receiving the funds in February.
A White House official stated that the program aims to provide farmers with certainty as they plan their crops for next year.
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President Donald Trump, Agriculture Secretary Brooke Rollins. Photo by Mark Wilson/Getty Images
“Farmers suffered for years under Joe Biden, who increased the United States’ trade deficit to over $1.2 trillion, raised input costs, pushed woke DEI agricultural policies, and more,” White House spokesperson Anna Kelly said in a statement provided to Blaze News.
“In contrast, President Trump is helping our agriculture industry by negotiating new trade deals to open new export markets for our farmers and boosting the farm safety net for the first time in a decade,” Kelly continued. “Today’s announcement reflects the president’s commitment to helping our farmers, who will have the support they need to bridge the gap between Biden’s failures and the president’s successful policies taking effect.”
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Photo by Scott Olson/Getty Images
China, the world’s largest soybean buyer, briefly boycotted American soybean farmers amid the ongoing trade war. In October, China agreed to resume purchases. Trump previously stated that China had plans to buy “tremendous amounts of soybeans and other farm products immediately.”
Last week, Rollins applauded Trump for reducing red tape for farmers.
“President Trump is cutting burdensome regulations and strengthening the farm safety net to ensure the future viability of American agriculture,” Rollins said. “Across the Trump administration, we are removing burdensome regulations that were strangling small businesses. For every new regulation, President Trump has eliminated a remarkable 48 — lifting a weighted blanket from the American economy.”
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