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Agriculture awaits the details of Trump’s tariff-funded aid package

The chairman of the U.S. House Ways and Means Committee says he’s optimistic the Trump administration will announce more details of farmer assistance “fairly soon.”

Jason Smith tells Brownfield the government shutdown doesn’t help the timing.

“They (the administration) are just trying to keep the doors open and funded right now, which is affecting us and a multitude of things, but I know Ag Secretary Brooke Rollins and the president have been clear: he’s going to take care of farmers, he’s going to do it.”

Questions remain: what does this aid package look like and how will it be funded?

U.S. Treasury Secretary Scott Bessent said an announcement to help farmers would be made Tuesday, October 7, but an announcement hasn’t happened yet.

Smith, a U.S. Congressman from Missouri, says President Trump plans to use tariff funds to help agriculture. While he didn’t provide more details, he says farmers need help. 

“They’re struggling, whether it’s cotton, corn soybeans, rice, you name it. It’s been tough with low commodity prices.”

Farmer Tommy Young from Arkansas tells Brownfield the timing of the aid is important, because farmers will start planning for next year with bankers in the next six weeks.

“What we need is a robust insurgence of money there to where we can make it to that point, but primarily, what we need is markets,” he says. “Everyone knows that. And hopefully, President Trump in his meeting with President Xi Jinping, we’re hoping Trump can come forward with a deal.”

China still hasn’t made any confirmed purchases of U.S. soybeans this fall. Soybeans are expected to be included in the discussions when the U.S. and China meet at the end of the month.