Trump tariffs could fund a bailout package for U.S. farmers, agriculture secretary tells FT

[Texas Governor Greg Abbott Holds Press Conference With Agriculture Secretary Brooke Rollins]
Brandon Bell/Getty Images News

The Trump administration is planning to use tariff revenue to fund a program to support U.S. farmers as they approach the harvest season facing challenges like falling export sales and rising input costs, U.S. agriculture secretary Brooke Rollins told the _Financial Times._

Financing of the bailout through “tariff income that is now coming into America” was “absolutely a potential.” Rollins commented [https://www.ft.com/content/0267b431-2ec9-4ca4-9d5c-5abf61f2b082?utm_source=chatgpt.com]. “We are reviewing markets every day.”

“We have every confidence in our incredible soyabean farmers in America and the importance of our soyabeans to the world, including to China,” Rollins said.

“New market access for our American farmers is perhaps unlike any time in history,” she said. She stressed that Treasury Secretary Scott Bessent—who is leading the negotiations with China—was a row crop farmer himself.

“I’m so confident in not only his ability to ensure American farmers are represented but in the president’s ability to ensure a good deal for agriculture.”

The report comes after mounting pressure from trade groups as China stopped buying soybeans from the U.S. in their tit-for-tat trade conflict, while the cost of fertilizer, machinery, and other imported inputs also scaled.

The agriculture secretary indicated there may be upcoming announcements of such support packages to help farmers cope with economic pressures, as the program aims to mitigate the impact on farmers caused by trade-related disruptions and increased production expenses. Rollins blamed trade policies under the Biden administration for the difficulties facing U.S. growers.

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