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The Trump Administration signaled this week that a “substantial support” package for U.S. program crop farmers impacted by trade tensions with China could be announced as early as Tuesday.
Treasury Secretary Scott Bessent stated that the Administration is preparing a plan to deal with the fallout, particularly as soybean farmers face a freeze on Chinese purchases. Bessent told CNBC on Thursday that Chinese leadership has “decided to use American soybean farmers as a hostage or pawn,” underscoring the urgency of the situation.
“Though we recognize the situation our program crop colleagues are in, specialty crops are impacted by the same challenging economic environment and also require assistance. Any aid package needs to include potatoes and other specialty crops, as these commodities are fully 50% of all crops grown for food consumption,” said NPC CEO Kam Quarles.
President Trump has previously indicated he is looking at diverting tariff revenues to offset export losses for farmers. Congressional leaders are also exploring mechanisms to use new duty receipts—potentially by lifting spending restrictions on Section 32—to provide assistance.
The aid is intended to help farmers through a difficult economic period, which includes not only trade disruption but also a record harvest that is straining storage capacity and suppressing prices. Secretary Bessent also confirmed that the Administration will work to ensure farmers have what they need for the next planting season.
