Summary
President Donald Trump announced a $12 billion aid package to help U.S. farmers affected by falling crop prices and his trade policies. The aid aims to support farmers impacted by trade tariffs, particularly from China, and will be distributed based on a formula that estimates production costs. Payments will be available to farms earning under $900,000 annually.
Key Facts
- President Trump introduced a $12 billion aid package for U.S. farmers.
- The aid is in response to falling crop prices and trade tariffs, especially from China.
- The package will provide $11 billion for row crop farmers such as those growing corn, soybeans, and cotton.
- An additional $1 billion is set aside for farmers growing specialty crops.
- Farmers can receive up to $155,000 per farm or individual if they earn less than $900,000 a year.
- The aid distribution is based on a formula considering production costs.
- Payments to farmers will start by the end of February, with applications opening soon.
