Nationwide — President Trump announced a $12 billion bailout for U.S. farmers, saying the funding will come from revenue collected through tariffs. The aid is aimed at growers who have been hurt by global trade disputes, with soybean farmers among the most affected.
Trump outlined the plan during a recent public event, calling it a way to send tariff money back to American farmers. He said the funding would use only a small share of the hundreds of billions of dollars generated by tariffs.
According to ABC News, the relief package includes $11 billion in one-time payments for crop farmers through a new Department of Agriculture bridge payment program. The remaining funds will go to farmers whose crops are not covered by that program.
Trump said the assistance is meant to give farmers more certainty as they sell this year’s harvest and prepare for the next planting season. He added that the relief would also support efforts to keep food prices affordable for U.S. families.
The announcement comes after months of strain on farmers tied to Trump’s trade policies. Global tariffs, especially those involving China, led to sharp declines in exports for several key crops.
Soybean farmers have taken the hardest hit. China, the largest buyer of U.S. soybeans in 2024, stopped purchasing American soybeans for much of the fall, even as farmers reported a strong harvest, according to USDA data.
During that period, China turned to Argentina for soybeans. At the same time, the U.S. approved a $20 billion bailout for Argentina, a move that drew criticism from U.S. farmers and lawmakers.
Republican Sen. Chuck Grassley of Iowa publicly raised concerns, pointing out that American soybeans were not being sold to China while Argentina benefited from the shift. The administration later announced a framework trade agreement with China that includes future soybean purchases.
Trump also referenced similar steps taken during his first term. His administration approved two farmer aid packages in 2018 and 2019 totaling $28 billion to help offset losses linked to trade disputes.