National Economic Council director Kevin Hassett spoke at a Wednesday event hosted by media outlet Axios and signaled a "clever and generous" farm bailout was ready to be announced as soon as the government shutdown ends.
Hassett said, "I expect that when the government opens that very soon after you're going to see what President [Donald] Trump's plan for farmers is, but it's really quite clever and generous. I can say that."
At the start of the month, Treasury Secretary Scott Bessent indicated something could be released within days. But the congressional spending dispute and resulting government shutdown also closed the door on the official announcement of the plans.
Bessent noted that many farmers supported President Donald Trump in the 2024 election and said the administration intends to stand by them.
China’s effective suspension of U.S. soybean purchases has exerted significant financial strain on U.S. growers. With China historically accounting for a large share of U.S. soybean exports, the sharp drop in demand has left farmers with excess supply and downward pressure on prices.
For example, by mid-season 2025, U.S. farmers were reportedly missing out on billions in anticipated sales to China, as South American suppliers (especially Brazil) filled much of the gap.
In the longer run, researchers estimate that Chinese retaliatory tariffs and import curbs reduce U.S. export volumes and squeeze farm incomes.
One econometric analysis finds that past tariff actions led to large declines in both export revenue and producer returns, forcing some farmers to reduce acreage or delay inputs.
The U.S. Department of Agriculture has moved to strengthen financial and structural support for U.S. agriculture through expanded aid and subsidy programs in 2025.
Efforts include direct payments to offset low commodity prices, enhanced crop-insurance subsidies, and new disaster and recovery funding under the American Relief Act.
The department is also channeling resources toward small and family farms through the "Farmers First" agenda, while releasing conservation funds and tightening risk-management tools.
Additional block grants are providing regional relief for weather-related and economic losses. These combined initiatives aim to stabilize farm incomes, maintain production, and protect rural economies during ongoing trade and market disruptions.
In late September, Trump told a gathering of reporters at the White House that he planned to use tariff income to support U.S. farmers.
"We're going to take some of that tariff money that we made, and we're going to give it to our farmers … " he said. "We're going to make sure that our farmers are in great shape."
Jim Mishler ✉
Jim Mishler, a seasoned reporter, anchor and news director, has decades of experience covering crime, politics and environmental issues.
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