The White House will introduce a $12 billion aid program for American farmers during a Monday roundtable. Treasury Secretary Scott Bessent and Agriculture Secretary Brooke Rollins will join him as he outlines the plan.
According to NBC News, the package includes $11 billion in direct one-time payments managed through a new USDA initiative. The announcement comes after extended trade tension with China, which had paused major agricultural purchases.
In recent weeks, China has resumed buying American soybeans, including its largest order in two years. Though they’ve committed to 12 million tons, Bessent said the current pace is acceptable. “China is on track to keep every part of the deal,” he told attendees at a New York Times event last week.
Still, the rollout of this aid has triggered frustration in farming communities. Many point to the Treasury’s $20 billion currency swap with Argentina earlier this year as a slap in the face, given Argentina competes directly with U.S. farmers for soybean sales.
Bessent claims the Treasury made a profit on that deal, but struggling farmers say that’s not the point. They’ve been waiting for this assistance since their bottom lines were hit hard by lost exports.
This $12 billion relief effort is seen as an overdue fix to a crisis that many say was avoidable. Whether it helps rebuild trust in Washington remains to be seen.
