Trump's 12 Billion Dollar Support Promise to American Farmers

Trump Administration Announces $12 Billion Support Package

United States President Donald Trump announced a new support package of $12 billion for American farmers struggling under difficult circumstances. This support aims to alleviate the financial burdens faced by farmers affected by trade tariffs and provide temporary liquidity until long-term adjustments are realized.

Farmers' Mandatory Mission

The U.S. Secretary of Agriculture Brooke Rollins and other secretaries stated in assessments with farmers from Arkansas, Iowa, Indiana, Kansas, Louisiana, Pennsylvania, Ohio, and Texas that this support package aims to address market disruptions and high input costs faced by farmers.

Bridge Payments

Trump referred to the support payments for farmers as "Bridge Payments," announcing that $11 billion of these payments will cover a range of products including barley, chickpeas, corn, and cotton. Payments will be calculated based on the size of the land farmed and production costs.

Payment Process and Products

Farmers eligible for the support will receive payments until February 28, 2026. The remaining $1 billion of the support package will be allocated for agricultural activities involving specialty products like sugar. Treasury Secretary Scott Bessent expressed that direct payments will provide crucial support for farmers to market their 2023 harvests.

Increasing Farm Bankruptcies

Bankruptcy filings are expected to reach 216 for the year 2024, with an increase in agricultural trade deficits anticipated in the coming years. According to research from the University of Missouri, it is predicted that net income for farms will decline by more than $30 billion by 2026.

Need for Long-Term Solutions

National Farmers Union President Rob Larew emphasized that this support package provides a short-term solution but that work is needed for long-term structural fixes. The American Soybean Association President stated that more support is needed for farmers to be competitive in the global market.