Trump administration mulling $10 billion aid package for U.S. farmers, sources say

The Trump administration is currently in discussions about providing a substantial financial aid package for farmers, with reports suggesting that the relief could exceed $10 billion. The focus of this aid package is on soybean farmers who have been severely impacted by the Chinese boycott of American soybeans.

According to sources familiar with the discussions, the White House is still in the early stages of considering this aid package. The Treasury Department and Agriculture Department are actively involved in these talks, with top White House economic adviser Kevin Hassett indicating that significant measures will be taken to address the challenges faced by farmers.

Hassett highlighted the current situation where silos are full, and soybeans are left on the ground covered with tarps, which he deemed as unacceptable to the president. He also mentioned efforts to reach out to soybean customers worldwide as part of ongoing trade negotiations.

In 2024, China purchased $12.6 billion worth of soybeans from the U.S., but this year, as the harvest season begins, there have been no U.S. soybean purchases by China. President Trump previously suggested that financial aid for farmers could come from tariff revenue, with the Treasury Department reporting that approximately $215 billion in tariffs was collected in the 2025 fiscal year.

The president expressed his intention to support farmers with some of the tariff revenue, emphasizing that it would help them during a challenging period until the tariffs start benefiting them. The White House has not yet provided a comment on these developments.

Kathryn Watson contributed to this report.

Jennifer Jacobs is a senior White House reporter at CBS News.