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President Trump has announced his intentions to provide financial relief to American farmers by redirecting some tariff revenue for those impacted by the ongoing tariffs and declining agricultural exports.

Some shit you should know before you dig in: If you’re unaware, American farmers have been severely impacted by tariffs imposed during recent trade disputes, particularly those targeting China. These tariffs have led to retaliation from major trading partners and other countries seeking alternatives, resulting in steep declines in US agricultural exports (especially soybeans and corn). China, which used to be the largest buyer of US soybeans, has drastically cut purchases, instead sourcing cheaper alternatives from countries like Brazil. As a result, US farmers have faced plummeting commodity prices. Corn, for example, has dropped over 50% from its 2022 peak, while production costs for essentials like seed, fertilizer, and equipment remain high due to additional import tariffs. This imbalance has squeezed farm margins, leading to rising debt, depleted working capital, and complaints from agricultural groups.

What’s going on now: President Trump has said he plans to take “some of that tariff money that we made” and “give it to our farmers, who are, for a little while, going to be hurt until the tariffs kick into their benefit.” Speaking from the Oval Office alongside Turkey’s president, Trump said the goal was to “make sure our farmers are in great shape.”

The exact amount of relief or eligibility requirements haven’t been announced, but administration officials say the aid could be rolled out in early 2026, likely tied to the congressional omnibus funding bill due by November. Agriculture Secretary Brooke Rollins confirmed that the administration is close to finalizing a plan, but not ready to announce specifics. “We are very close to understanding and knowing and announcing what we will do,” she said at a recent agriculture conference. Rollins has walked a fine line, supporting the need for assistance while warning about the risks of distorting the market with too much government intervention.

This all comes as the economic pressure on farms is reaching a breaking point. According to the University of Arkansas System Division of Agriculture, there were 259 Chapter 12 bankruptcy filings between April 2024 and March 2025 (with Q1 2025 already surpassing Q1 2024). Some economists say many farmers have burned through their cash reserves and are now in difficult positions to secure financing.