Balgarianovinite.com
President Donald Trump on Monday announced $12 billion in “economic assistance” for American farmers who have been grappling with dwindling foreign sales this year, following the rollout of his tariff plan.
The president, in a televised roundtable announcement from the White House, said he wanted to help farmers because he loves them.
“And as you know, the farmers like me,” Trump said, “based on voting trends.”
The funds will go towards crops like cotton, corn, soybeans, rice, wheat, and potatoes, as well as cattle farmers. It will be dispersed by the Agriculture Department’s Farmer Bridge Assistance Program.
Monday’s announcement comes after China halted buying American farm products in retaliation to Trump’s tariff plan earlier this year.
The New York Times reported China had failed to meet certain purchase commitments in recent years, after making a $200 billion agriculture deal with Trump during his first term. The report added:
China curbed purchases of U.S. farm products even more significantly this year. But following a trade truce in late October, China agreed to buy 12 million metric tons of soybeans from the United States this year and at least 25 million metric tons of soybeans in each of the next three years. The 25 million metric tons were in line with the 25 to 30 million metric tons that it had purchased in recent years
Trump was flanked by Treasury Secretary Scott Bessent, Agriculture Secretary Brooke Rollins, among other officials and some farm representatives, during his announcement. He defended his tariff plan briefly in his opening statement, saying the U.S was “taking in billions — really trillions of dollars, if you think about it,” from tariffs.
The president also took a moment to bash his predecessor, Joe Biden, saying he was a “sleepy guy” who did nothing for farmers but impose “crippling regulations.”
“He was the worst president in the history of our country, by the way, in case anybody has any questions,” Trump added.
Trump then pointed to ways he has helped farm workers since returning to office, including increasing the estate tax exemption; Trump said families have been going broke trying to keep farms they inherited.
“They go bankrupt. A lot of death, too. Literally, because they love their farm and they love their business and their way of life, they end up committing suicide,” Trump said. “A lot of suicides.”
Watch above, via Fox News.
The post JUST IN: Trump Announces $12 Billion Bailout For American Farmers first appeared on Mediaite.
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