US plans $10 billion aid package for farmers hit by China’s boycott.
White House vows “big measures” to support soybean growers facing losses.
Tariff revenues may fund relief as China halts soybean purchases.
Administration aims to stabilise farm sector amid ongoing trade tensions.
The US administration is planning to unveil a financial aid package for American farmers who have been hit hard by China’s boycott of US soyabean.
According to a source, cited by CBS, the package could cost more than $10 billion, though discussions involving both treasury and agriculture departments are still in the early stages.
While talking to CNBC on Monday, Top White House economic adviser Kevin Hassett said, "We've had numerous meetings over the last week or two" about "what we're going to do" to support farmers. He promised the administration would take "big measures" and said, "those big measures are going to be public really, really soon."
The White House official also highlighted the urgent situation on farms, while stating, "Right now, the silos are full, and there are soybeans sitting on the ground with tarps over them. That's unacceptable to the president."
He further mentioned that the administration is "calling up all our soybean customers around the world as part of our trade negotiations." As per data from the agriculture department, in 2024, China purchased $12.6 billion worth of US soybeans. However, as the 2025 harvest season begins, the Asian giant has not purchased any.
Last month, the US President suggested that some of the financial aid for farmers could come from tariff revenue. The treasury department said that the federal government collected roughly $215 billion in tariffs in the 2025 fiscal year, which ran from October 2024 to September 30, 2025, CBS reported
Additionally, the president also told the reporters on September 25, "We're going to take some of that tariff money that we made, we're going to give it to our farmers, who are, for a little while, going to be hurt until the tariffs kick into their benefit,” adding, “So, we're going to make sure that our farmers are in great shape, because we're taking in a lot of money."
