US President Donald Trump stated that the United States would allocate tariff revenue to farmers on Thursday.
“We’re going to take some of that tariff money that we made, we’re going to give it to our farmers, who are, for a little while, going to be hurt until the tariffs kick into their benefit,” Trump told reporters in the Oval Office.
“So we’re going to make sure that our farmers are in great shape, because we’re taking in a lot of money,” he added.
Trump’s officials expect that Congress will need to approve using tariff revenue for the farm aid plan and are hoping lawmakers will include it in their budget package, due by November 21. This means the aid could start being distributed in early 2026.
The Trump administration has been looking at different ways to fund the aid package for weeks, as farmers, especially those growing corn and soybeans, face a potential economic crisis worsened by the president’s tariffs.
Trump has said publicly that he prefers using the tariff money for the farm aid instead of other funds.
The US farm economy is struggling this year due to low crop prices and ongoing trade disputes. Republican lawmakers have raised concerns over significant losses faced by farmers and are urging the administration to provide aid by the end of the year.
Agriculture Secretary Brooke Rollins mentioned that the administration is considering an aid program similar to the one implemented during the previous Trump administration, which provided billions in support to offset losses from the trade war with China.
Trump stated, “Farmers will face challenges for a while, until the tariffs start benefiting them.” He added, “In the end, farmers will make a fortune.”