(NewsNation) — President Donald Trump held a roundtable Monday afternoon with Agriculture Secretary Brooke Rollins, Treasury Secretary Scott Bessent and farmers, announcing aid for farmers.
The president announced $12 billion in aid to farmers, who have been feeling the impact of his trade war. One Iowa farmer in attendance called it “Christmas for farmers.”
Trump began by blaming the affordability crisis on Democrats and said the aid would come from what he said were “hundreds of billions” of revenue from tariffs.
The president repeated his opinion that other countries pay the tariff. The cost is actually paid by U.S importers and economists say companies often pass that cost along to consumers in the form of higher prices.
As he touted his tariffs, Trump repeatedly emphasized how important it is for the administration to win its case before the Supreme Court over his authority to institute tariffs.
Rollins described the payment as a bridge for farmers to get through to next planting season. She said $11 billion would be available for one-time payments and $1 billion set aside to ensure the department can meet other needs.
“This is the bridge that is needed to get from the last administration under last president to a new golden age of farmers,” she said. “Instead of farming for government checks, they will be able to farm to feed their families and sell their crops.”
Trump added that the administration would be removing environmental restrictions on companies that make tractors and other farming equipment.
While farmers politically supported Trump, they have faced uncertainty as a result of his tariff policy and escalating global trade war.
Farmers who grow commodities, including soybeans, sorghum, corn, rice, wheat, potatoes and cotton, have struggled as other countries have purchased less from the U.S. during trade negotiations.
More than half of U.S. soybean and sorghum crops go to China, but the country stopped buying as Trump continued to impose high tariffs on Chinese goods.
Trump entered an agreement with China for Beijing to purchase 12 million metric tons of soybeans by the end of the year, along with at least 25 million metric tons each year for the next three years. So far, China has purchased 2.8 million metric tons this year.
During the roundtable, Trump expressed his belief that President Xi Jinping would buy even more than the commitment.
During his first term, Trump also provided aid for farmers who were hurt by his tariff policies and, in 2020, by the COVID-19 pandemic. His administration gave $22 billion in 2019 and nearly $46 billion in 2020 to help farmers.
The funds are expected to be distributed through Department of Agriculture programs and offer one-time payouts for certain crops.
Trump’s announcement comes as affordability has become a key issue for Americans who are facing rising prices for essentials like groceries and struggling with the impact of tariffs as they shop for the holidays.
The president has made some efforts to address voters’ concerns, while also calling affordability a “Democrat hoax.”