❓WHAT HAPPENED: President Donald J. Trump is announcing a $12 billion aid package for American farmers.
👤WHO WAS INVOLVED: President Trump, Treasury Secretary Scott Bessent, Agriculture Secretary Brooke Rollins, and American farmers.
📍WHEN & WHERE: The announcement takes place on Monday during a roundtable event at the White House.
💬KEY QUOTE: “China is on track to keep every part of the deal.” – Scott Bessent
🎯IMPACT: The aid package aims to provide relief to American farmers amid trade tensions with China.
President Donald J. Trump is set to unveil a $12 billion aid package for U.S. farmers on Monday. The announcement takes place during a White House roundtable attended by the President, Treasury Secretary Scott Bessent, Agriculture Secretary Brooke Rollins, and a group of farmers.
The package consists of up to $11 billion in direct one-time payments through a new program run by the Department of Agriculture. The initiative comes as U.S.-China trade ties show signs of recovery. China placed its biggest order for American soybeans in two years in November. Although Beijing has not yet reached its pledged purchase of 12 million tons, Treasury Secretary Bessent remained positive, saying, “China is on track to keep every part of the deal,” in remarks last week.
China’s stepped-up buying of U.S. farm products follows a stretch in which it relied more heavily on Argentina for soybeans. In October, the U.S. Treasury Department unveiled a $20 billion currency swap deal with Argentina, whose president, Javier Milei, is an ally of Trump. However, some U.S. farmers criticized the arrangement, viewing it as support for a competitor while their own promised assistance from Washington remained delayed.
Reports suggest that the Treasury ultimately made a profit on the currency swaps.
Join Pulse+ to comment below, and receive exclusive e-mail analyses.