"United States President Donald Trump has announced a $12bn aid package to help farmers harmed by his hardline tariff policies. Trump announced the package at a White House event on Monday, saying the money would come from funds raised by tariffs. list of 3 itemsend of list What we're doing is we're is taking a relatively small portion of that, and we're going to be giving and providing it to the farmers in economic assistance, Trump said."
"Since taking office, Trump has used emergency powers to pursue a sweeping tariff agenda, including imposing reciprocal tariffs on nearly all US trade and escalating a trade war with China. While Washington and Beijing have since begun to de-escalate some of their tensions, the tit-for-tat has spelt a challenging year for farmers. Despite record harvests in the US, China has increasingly turned to South America for agricultural products, notably soya beans and sorghum."
The US will allocate $12bn in aid to farmers harmed by tariffs, with funds drawn from tariff revenues. Up to $11bn is intended for a newly created Farmer Bridge Assistance program aimed at row crop farmers, while allocation of the remaining $1bn was undecided. Tariff measures and reciprocal duties have reduced foreign purchases and raised seed and fertilizer prices, and have pushed China toward South American agricultural suppliers for products such as soybeans and sorghum. The Food and Agricultural Policy Research Institute estimated net farm income could fall by more than $30bn in 2026 due to lower government payments and weak crop prices. Trump referenced strong farmer support and emphasized assistance to producers.
Read at www.aljazeera.com
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