Benise Balaoing

President Donald Trump signs executive orders in the Oval Office on January 20, 2025 in Washington, DC. Trump takes office for his second term as the 47th president of the United States. Getty Images/AFP 

Article (news)

US President Donald Trump

Agence France-Presse

WASHINGTON -- US Treasury Secretary Scott Bessent signaled Thursday that &quot;substantial support&quot; for farmers would be announced next week, particularly for those growing soybeans, as they struggle with fallout from President Donald Trump&#x27;s trade conflicts.Worries have been growing for weeks of a major hit to farmers, a key part of Trump&#x27;s political base, as exports to China dry up over tariffs instituted by Beijing in retaliation to US levies.&quot;You should expect some news on Tuesday on substantial support for our farmers, especially the soybean farmers,&quot; Bessent told CNBC early Thursday.The Wall Street Journal also reported Thursday that President Donald Trump is mulling $10 billion or more in aid to American farmers as the trade tensions take a toll.The Trump administration is considering using revenue collected from the president&#x27;s tariffs to fund much of this support, the Journal reported, with the money potentially distributed in the upcoming months.<div><a href="https://www.abs-cbn.com/news/nation/2025/7/22/trump-oks-only-1-cut-in-tariffs-on-ph-zero-tariffs-for-us-goods-in-ph-0258" rel="noopener noreferrer" target="_blank">Trump cuts tariffs on PH to 19%; Manila OKs zero tariffs on US-made cars</a></div>Asked about the matter, White House spokesperson Anna Kelly said Trump and Agriculture Secretary Brooke Rollins &quot;are always in touch about the needs of our farmers, who played a crucial role in the President&#x27;s November (election) victory.&quot;&quot;He has made clear his intention to use tariff revenue to help our agricultural sector, but no final decisions on the contours of this plan have been made,&quot; she told AFP.Bessent did not provide figures in his interview with CNBC either, but said: &quot;They&#x27;ve had President Trump&#x27;s back, and we&#x27;ve got their back.&quot;Farmers have been particularly caught in the crossfire as Washington and Beijing imposed tit-for-tat tariffs on each other&#x27;s exports.<div><a href="https://www.abs-cbn.com/news/business/2025/5/3/trump-s-tariffs-bite-at-quiet-us-ports-1618" rel="noopener noreferrer" target="_blank">Trump&#x27;s tariffs bite at quiet US ports</a></div>On Wednesday, Trump said that he planned to push Chinese President Xi Jinping on purchases of US soybeans when they meet in the coming weeks.The leaders of the world&#x27;s two biggest economies are expected to speak in around four weeks, on the sidelines of an Asia-Pacific Economic Cooperation (APEC) summit in South Korea.The American Soybean Association warned in August that Beijing&#x27;s retaliatory tariffs were shutting US farmers out of their biggest export market going into the 2025 harvest -- with China being a top global buyer of soybeans.But Beijing&#x27;s counter tariffs, after Trump targeted Chinese goods with fresh duties, has stunted sales to the country. Instead, Chinese buyers have relied more on other exporters like Brazil and Argentina.&quot;Nobody wants to trade with us,&quot; said Jonathan Driver, a soybean farmer in Arkansas.While farmers can still sell their crops, he warned that many are selling them for a loss.&quot;It&#x27;s going to put several people out of business,&quot; he told AFP. &quot;And we&#x27;ve had prices of everything continue to go up.&quot;

US Treasury Secretary Scott Bessent signaled Thursday that "substantial support" for farmers would be announced next week, particularly for those growing soybeans, as they struggle with fallout from President Donald Trump's trade conflicts.

US Treasury Secretary Scott Bessent signaled Thursday that "substantial support" for farmers would be announced next week, particularly for those growing soybeans, as they struggle with fallout from President Donald Trump's trade conflicts.

US farmers hit by trade war to get 'substantial' aid: Treasury chief

News

Entertainment

Lifestyle

Sports

Metro.Style

More

Traffic

Manila

Horoscope

Business

US farmers hit by trade war to get 'substantial' aid: Treasury chief

Agence France-Presse

Published Oct 03, 2025 11:00 AM PHT

Read More:

US

United States

tariffs

Donald Trump

farmers

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2026 ABS-CBN Corporation. All Rights Reserved.