The aid package, intended to protect US agricultural producers from the negative impacts of trade disputes, has been delayed due to the federal government shutdown. According to Reuters, Treasury Secretary Scott Bessent told Fox News that the planned aid program was originally expected to be announced last week.
Bessent explained that the program aims to provide direct subsidies to farmers, providing a financial bridge until the new season. The Secretary said, “Our farmers’ access to credit is crucial. Therefore, we were going to announce an agricultural program that includes direct support.”
The US administration’s aid plan for the agricultural sector aims to mitigate the effects of the trade war, particularly with China. With China halting its soybean purchases from the US, many farmers have been under economic pressure.
Bessent stated that he anticipates Chinese buyers will return to the US market at the end of the season and expressed hope for a partial recovery in trade relations. However, the official announcement of the aid package is expected after the federal government resumes operations.
