Trump Administration Plans $10-$14B Aid for U.S. Soybean Farmers Amid China Trade Gap

The Trump administration is preparing a substantial aid package, potentially valued between $10 billion and $14 billion, to support U.S. soybean farmers affected by China's withdrawal from the American soybean market amid ongoing trade tensions. Treasury Secretary Scott Bessent emphasized that this support is a response to China using American farmers as leverage in trade negotiations, with an official announcement expected on Tuesday. The aid is expected to be partly funded by tariff revenues collected from trade disputes and aims to assist farmers in managing the current crisis and preparing for the next planting season. President Trump has highlighted the importance of this issue and plans to discuss soybean trade with Chinese President Xi Jinping in upcoming talks. The administration also aims to work with the Farm Credit Bureau to ensure farmers have necessary resources moving forward, while exploring alternative markets as China reduces purchases. This move reflects broader efforts by the administration to prioritize and protect American farmers amid adverse global trade developments.