The Trump administration is reportedly planning to unveil a financial aid package to support American farmers who are hit hard by China’s boycott of US soybean.The package could cost more than $10 billion, though discussions involving both treasury and agriculture departments are still in the early stages, according to a source cited by CBS. Top White House economic adviser Kevin Hassett told CNBC on Monday, “We’ve had numerous meetings over the last week or two” about “what we’re going to do” to support farmers. He promised the administration would take “big measures” and said, “those big measures are going to be public really, really soon.”Hassett also highlighted the urgent situation on farms, saying, “Right now, the silos are full, and there are soybeans sitting on the ground with tarps over them. That’s unacceptable to the president.” He added that the administration is “calling up all our soybean customers around the world as part of our trade negotiations.”Data from the agriculture department shows that in 2024, China purchased $12.6 billion worth of US soybeans. However, as the 2025 harvest season begins, the Asian giant has not purchased any.Last month, US President Trump suggested that some of the financial aid for farmers could come from tariff revenue. The treasury department says the federal government collected roughly $215 billion in tariffs in the 2025 fiscal year, which ran from October 2024 to September 30, 2025, CBS reported.The president told reporters in the Oval Office on 25 September, “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,” adding, “So, we’re going to make sure that our farmers are in great shape, because we’re taking in a lot of money.”
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