Washington: US President Donald Trump on Monday spoken a major assistance plan of $12 billion for the country's farmers. This package has been designed to provide relief to those farmers who are facing the brunt of increasing trade tensions and tariff disputes with China. Finance Minister Scott Besant, Agriculture Minister Brooke Rollins, several MPs, and representatives of the farming polity were present at the event organized at the White House.
Trump said that the money for this plan will be taken out of government revenue from US tariffs. According to him, this assistance will be of unconfined help to the farmers in selling this year's yield and preparing for the next season. He said this relief will moreover remoter their efforts to alimony supplies prices under control.
The money will reach the hands of farmers by 28 February
According to Agriculture Minister Rollins, farmers will be worldly-wise to wield for this assistance in the coming weeks, and this value will be given to them by February 28, 2026. Well-nigh $11 billion has been set whispered for the Agriculture Department's "Farm Bridge Assistance Program," which will provide one-time payments to farmers for crops, officials said.
Finance Minister Besant said that this scheme will requite stability and conviction to the farmers for the next year. While talking to CBS News, he said that farmers should plan for the future only when there is clarity well-nigh their income.
The utterance comes at a time when China scrutinizingly stopped ownership US soybeans in retaliation. China has been the largest proprietrix of US soybeans, and increasingly than half of US soybean exports over the past five years have gone to that country. According to the Iowa Farm Bureau, this snub has forfeit farmers billions of dollars in lost income.
Agreement on restarting soybean trade
Trump and Chinese President Xi Jinping reached a preliminary trade deal in October, like-minded to resume soybean purchases. In November, officials said China would buy at least 12 million metric tons of soybeans in the last two months of 2025. However, experts believe that procurement may not reach normal levels.
The undersong on farmers has once increased
The trade war has increased the problems of American farmers. Farmers, once troubled by rising input financing and falling yield prices, are now facing huge losses on corn, soybeans, and cotton. Data from the American Farm Bureau Federation show that yield prices have declined steadily over the past two years.
According to Finance Minister Besant, domestic soybean prices have increased by well-nigh 15% since the try-on with China. In October, the wardship began work on financial assistance for farmers, and sources said the relief value could exceed $10 billion.
