President Donald Trump is reportedly considering a new farmer aid package valued at $10 to $14 billion to help offset mounting economic pressure from renewed trade tensions with China.
According to reports from The Wall Street Journal, the White House is exploring the use of tariff revenues to fund the program, with aid potentially distributed in the coming months. Early discussions suggest soybean producers would receive the majority of the support, alongside other impacted sectors across U.S. agriculture.
“President Trump and Secretary Rollins are always in touch about the needs of our farmers,” said White House spokeswoman Anna Kelly. “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.”
During Trump’s first term, tariffs on China led to steep declines in U.S. soybean exports, triggering roughly $23 billion in government compensation to affected farmers. Despite some recovery in trade since then, China has continued shifting procurement to South America, investing heavily in Brazil’s supply chain.
Treasury Secretary Scott Bessent told CNBC that farmers could see a “substantial support” announcement as soon as Tuesday, adding that the administration wants to ensure producers “have what they need for next planting season.”
Bessent also highlighted current challenges tied to this year’s record harvest, noting that storage shortages and low prices are adding strain in farm country.
Trump has also stated that soybeans will be a major topic during his upcoming meeting with Chinese President Xi Jinping later this month in Gyeongju, South Korea, as part of renewed efforts to reach a trade breakthrough.
