President Donald Trump is set to announce a $12 billion aid package for American farmers on Monday, according to a White House official who confirmed the news to ABC News. The aid package, intended to support farmers facing economic challenges, will include $11 billion in one-time payments. Details regarding the allocation of the remaining $1 billion were not immediately available.
The announcement comes amid ongoing trade disputes and concerns about the impact on agricultural markets. Farmers have been particularly affected by retaliatory tariffs from other countries, leading to decreased exports and lower commodity prices. This aid package is seen as an effort to mitigate those impacts and provide relief to the agricultural sector.
The White House official's confirmation suggests the plan has received final approval and is ready for implementation. Further details, including eligibility requirements for farmers and the timeline for distributing the funds, are expected to be released alongside the official announcement on Monday.
