U.S. Treasury Secretary Scott Bessent said earlier today that the federal government would support American farmers considering China’s refusal to buy soybeans and that an announcement would be made Tuesday.
“American farmers overwhelmingly voted for President Donald Trump in the 2024 presidential election,” Bessent said.
He indicated that he’d met with Trump and Ag Secretary Rollins in the Oval Office on Wednesday to discuss a strategy to help U.S. farmers, especially soybean farmers.
The Wall Street Journal reported the administration is considering providing $10 billion or more in aid to U.S. farmers as the agriculture sector warns of economic fallout from his far-reaching tariffs.
Read more from Pro Farmer.
