By Ryan Hanrahan
Reuters’ Leah Douglas and Bo Erickson reported that “the Trump administration is expected to announce a plan as soon as Tuesday (today) to bail out U.S. farmers stung by trade disputes and big harvests, with the initial outlay potentially totaling up to $15 billion, according to sources familiar with the matter.”
“The plan, however, could be difficult to roll out as an ongoing government shutdown prevents the kind of Congressional action needed to approve such a large payout, and existing government reserves fall short, the sources said,” Douglas and Erickson reported. “Farmers generally support President Donald Trump but have pressed his administration for trade deals as China continues to spurn U.S. soybean purchases amid tit-for-tat tariffs, and a record corn harvest threatens to sink farmer profits.”
“Republican lawmakers have warned farmers face ‘financial calamity’ if they do not receive aid by the end of the year. Treasury Secretary Scott Bessent said last week that the White House would announce aid for farmers on Tuesday,” Douglas and Erickson reported. “Three sources told Reuters they expected the administration to announce the package this week.”
Source : illinois.edu