Washington – The Trump administration plans an important set of financial assistance for farmers, according to several sources familiar with discussions. The package could include more than $ 10 billion in repairs.
The White House focuses on soy producers because they were hardly affected by the Chinese boycott on American soybeans. Discussions on the package are still at the start, said one of the sources.
The Treasury Department and the Department of Agriculture are involved in the talks. The best economic adviser in the White House, Kevin Hassett, said on CNBC on Monday that “we have had many meetings in recent weeks or two” on “what we are going to do” about the hit farmers have taken. He promised that the administration would take “major measures” and “these major measures will really be public, very soon”.
Hassett has recognized: “Right now, the silos are full, and there is soybean sitting on the ground with tarpaulins. It is unacceptable for the president.” He also said that the administration “calls all our soy clients in the world in the context of our commercial negotiations”.
In 2024, China bought $ 12.6 billion in the United States, federal data in the department of agriculture shows.
While the harvest season is starting this year, China has made no American soy purchasing.
Last month, President Trump suggested financial assistance for farmers could come from price income. The Treasury Department indicates that the federal government collected around $ 215 billion in prices during the 2025 fiscal year, which began in October 2024 and ended on September 30.
“We are going to take part of this price that we have won, we will give it to our farmers, who, for a long time, will be injured until the prices are put in their advantage,” the president told the journalists in the oval office on September 25. “So we are going to make sure that our farmers are in great shape, because we take a lot of money.”
The White House did not immediately respond to a request for comments.
Kathryn Watson contributed to this report.
