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American farmers will receive a $12 billion aid package, in the latest step to offset some of the negative effects of President Trump’s tariff policy, including reduced crop prices.
Trump is set to announce the aid package alongside Treasury Secretary Scott Bessent—a soybean farmer—and Agriculture Secretary Brooke Rollins at a White House event attended by farmers.
“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,” White House spokesperson Anna Kelly said in a statement.
“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.”
In October, during his meeting with Xi Jinping in South Korea, President Trump announced that China had agreed to buy large quantities soybeans, sorghum and “other farm products.”
On Sunday, Treasury Secretary Scott Bessent said that although China has kept its word on crop purchases, a short-term bailout was still needed.
“We are going to create this bridge because, again, agriculture is all about the future, you’ve got to start financing for planting next year, when things will be very good,” Bessent said.
Bessent recently announced the sale of his soybean farm, which was an ethics requirement of his becoming Treasury Secretary.
In related news, President Trump has said he will use other legal methods to keep his flagship tariff policy in place if the Supreme Court votes to strike it down in its current form.
In a post on Truth Social, the President said the tariff regime as it stands is “far more direct, less cumbersome, and much faster” than other methods available under US law.
“Speed, power, and certainty are, at all times, important factors in getting the job done in a lasting and victorious manner,” he wrote.
“I have settled 8 Wars in 10 months because of the rights clearly given to the President of the United States.”
Speaking to reporters at the Kennedy Center in Washington, the President said the tariff case is about more than just trade policy.
“We have tremendous flexibility with the current system. It’s unbelievable for national security. I’ve ended eight wars largely because of trade, because of tariffs,” Trump said.
“If we go the other tariff route—and there are other routes we can go—but it won’t give you the same pure national security as this one. This one is swift and very powerful.”
Last month, the Supreme Court heard arguments on whether the President had exceeded his powers under the International Emergency Economic Powers Act (IEEPA), which allows presidents to regulate economic policy after declaring a national emergency.
A number of lower courts have already ruled President Trump exceeded his power.
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