WASHINGTON (TNND) — President Donald Trump has a new $12 billion plan to help farmers who have been struggling to sell crops due to higher prices from the White House’s trade war with China.
Trump will announce his billion-dollar aid package during an announcement on Monday, an anonymous source told The Associated Press.
The event will be attended by farmers, Treasury Secretary Scott Bessent and Agriculture Secretary Brooke Rollins.
In October, the administration released $3 billion in federal aid to farmers, which was frozen due to the government shutdown.
“@POTUS is standing up for our farmers while Democrats obstruct. Special thanks to our great USDA employees who continue to work without pay to serve our farmers and ranchers,” Rollins wrote on X about the annoucement.
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Farmers have been struggling ever since China began to boycott purchasing their soybeans, opting instead to purchase from Argentina. The South American country lifted its 26% tariff on soybean exports, and China jumped to purchase a million tons of soybeans from Argentina.