New USDA and EXIM partnership expands export financing for US farmers
The U.S. Department of Agriculture has announced a new partnership with the Export-Import Bank of the United States to strengthen agricultural exports and reduce the national agricultural trade deficit. Along with this partnership, USDA has officially launched the Financial Assurance to Revitalize Markets, known as the FARM Initiative.
The FARM Initiative is a broad effort to modernize USDA’s export credit guarantee program. Its goal is to improve access to global markets, increase confidence for exporters and lenders, and strengthen the position of U.S. agriculture in international trade. By working closely with EXIM, USDA is combining its export financing tools with EXIM’s role as the nation’s official export credit agency.
“Since January 20, 2025, President Trump has initiated the most aggressive foreign trade agenda in American history. The President and his entire trade team have traveled the world to successfully negotiate over two dozen trade deals, expanding unprecedented market access for American farmers and ranchers,” said U.S. Secretary of Agriculture Brooke L. Rollins.
“Over the last four years, our trade agenda favored foreign competitors over America’s farmers, ranchers, and producers. This led to a $50 billion projected agricultural trade deficit, when under President Trump we had a surplus. In the last year we cut this in half with corn exports up 29%, ethanol exports up 11%, and dairy exports up 15%,” said Rollins.
“This new partnership between USDA and EXIM is exactly the new thinking and the comingling of the brightest minds in government that is needed to fully utilize every single available resource to boost ag exports, improve the ag economy, and return to an era of long-term stability and profitability in rural America,” said Rollins.
Export-Import Bank Chairman John Jovanovic highlighted that the collaboration will create a stronger approach to export financing. By pairing EXIM tools with USDA’s GSM-102 Export Credit Guarantee Program, the agencies aim to reduce risks and open new markets for U.S. farm products.
The announcement was made by Under Secretary for Trade and Foreign Agricultural Affairs Luke J. Lindberg during the EXIM 2026 Annual Conference in Washington, D.C. He emphasized that the initiative supports the goal of restoring U.S. leadership in global food production.
The FARM Initiative builds on earlier commitments made in 2025 to expand trade finance opportunities. In February 2026, USDA introduced expanded financing under GSM-102, including a new 18-month repayment option and expanded banking participation. The program now also offers full coverage for payment guarantees.
“USDA and EXIM share an interest in promoting agricultural exports and reclaiming the United States’ status as the breadbasket to the world,” said Under Secretary Lindberg. “Through the FARM Initiative and this historic partnership with EXIM, we are working to build a new golden age of the American farmer.”
EXIM will add its export credit insurance programs to the $5.5 billion authorized under GSM-102. Together, these tools are designed to support American farmers, increase exports, and strengthen the agricultural economy.
Photo Credit: usda