Trump Considering $10B to $14B in Aid for Farmers
Trump Considering $10B to $14B in Aid for Farmers
President Donald Trump said Wednesday he plans to use tariff revenue from imports to aid U.S. soybean farmers hurt by the economic fallout from the U.S.-China trade fight.
“The Soybean Farmers of our Country are being hurt because China is, for ‘negotiating’ reasons only, not buying,” Trump posted on Truth Social. “We’ve made so much money on Tariffs, that we are going to take a small portion of that money, and help our Farmers.”
His administration is considering providing up to $14 billion in aid, reported Politico.
The money would come out of an internal U.S. Department of Agriculture account, though just $4 billion is left in the account, according to Politico.
Trump’s trade war with China has prompted the world’s top soybean buyer to shun U.S. shipments for rival Brazil.
Record-high corn harvests are expected to drive down prices, and the costs of farming necessities like seeds and fertilizer are surging.
Anna Kelly, a White House spokeswoman, told The Wall Street Journal that Trump and Agriculture Secretary Brooke Rollins “are always in touch about the needs of our farmers, who played a crucial role in the president’s November victory.”
“He has made clear his intention to use tariff revenue to help our agricultural sector, but no final decisions on the contours of this plan have been made,” she added.
Solange Reyner ✉
Solange Reyner is a writer and editor for Newsmax. She has more than 15 years in the journalism industry reporting and covering news, sports and politics.
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