Trump Unveils £9.5 Billion Support; Promises ‘New Golden Era’ For US Agriculture

US President Donald Trump has introduced a substantial agricultural support package worth up to £9.5 billion, positioning it as essential assistance for farmers preparing for the next planting season.

Speaking at a White House roundtable on Monday, he accused the former administration of leaving behind economic instability and insisted that his team had worked to restore affordability and price stability across the country.

Trump pointed to falling petrol prices, noting that several states had recorded figures as low as $1.99 per gallon, which he described as evidence of improving economic conditions.

Trump, joined by senior officials including Agriculture Secretary Brooke Rollins and Treasury Secretary Scott Bessent, said the programme offers farmers ‘certainty’ as they navigate global market pressures.

Rollins confirmed that the government will issue £8.7 billion immediately and will hold back an additional £800 million for future adjustments.

She further added that farmers could expect clarity on their payment allocations before the month’s end.

Trump maintained that the funding was made possible through tariff income.

“We’re using only a fraction of what we collect,” he said, arguing that tariff revenues allowed the government to intervene without raising taxes.

Bessent highlighted strengthened trade commitments from China, noting that it had agreed to purchase at least 12 million metric tonnes of US soybeans this season, followed by annual commitments of 25 million tonnes for three consecutive years.

Critique of Previous Policies and Regulatory Promises

The President argued that agricultural communities suffered under earlier policy frameworks, citing increased bankruptcies and higher operating costs.

National Economic Council director Kevin Hassett claimed that around 1,50,000 farms had closed under the previous administration, alongside a significant rise in interest burdens.

Trump also promised to ease environmental regulations affecting farm machinery, describing existing rules as overly costly and bureaucratic.

Farmers at the roundtable welcomed the measures.

Iowa producer Cordt Holub described the payments as a timely boost, while Louisiana rice miller Meryl Kennedy voiced concerns over expanding imports from Asian countries, warning that they were eroding traditional export markets.

Addressing such concerns, Trump said tariff tools could remedy unfair competition quickly. He added that farmers ultimately sought fair market access, not permanent subsidies.

The announcement comes as agricultural policy takes on renewed political significance ahead of the upcoming US election cycle.

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