President Trump is scheduled to participate in a round table this afternoon, where he will reportedly announce new protections for American farmers who have been impacted by tariffs.
Critics argue that Trump’s tariffs have had negative effects on the economy and American businesses, but the Trump Administration says that any pains felt are carried over from the Biden Administration, and Trump is opening new markets with his trade policy.
“President Trump is helping our agriculture industry by negotiating new trade deals to open new export markets for our farmers and boosting the farm safety net for the first time in a decade,” White House spokeswoman Anna Kelly said.
“Today’s announcement reflects the president’s commitment to helping our farmers, who will have the support they need to bridge the gap between Biden’s failures and the President’s successful policies taking effect.”
Trump’s aid package for farmers is expected to include $12 billion for farmers.
He will be joined at the roundtable by Treasury Secretary Scott Bessent and Agriculture Secretary Brooke Rollins.
Per the New York Times:
President Trump will roll out a $12 billion bailout for struggling farmers on Monday as he looks to shore up the finances of some of his most loyal supporters whose financial fortunes have been hurt by his trade war.
The rescue package, which is expected to be unveiled at a round table at the White House, is an acknowledgment by the administration that Mr. Trump’s trade policies have had negative consequences for the American agriculture sector. Although his plan to raise tariffs were intended to spur domestic production and open export markets, China — the biggest buyer of American crops such as soybeans — retaliated by halting purchases of U.S. farm products this year.
Most of the relief funds will come from the Agriculture Department’s Farmer Bridge Assistance program. According to the White House, the money will go to corn, cotton, sorghum, soybean, rice, cattle, wheat and potato farmers.
The need for the rescue package reflects the limits of Mr. Trump’s trade agenda, which relies on tariffs as leverage to strike new trade deals. American farmers have been warning of the worst crisis since the 1980s as China turned to Brazil, Argentina and other markets for food products.
The event was scheduled to begin at 2 PM ET.
Watch live below:
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