Donald Trump on Monday announced a $12bn aid package funded by tariff income for US farmers, who have been among the hardest hit by the administration’s trade policies.
The bailout plan comes as the American agricultural sector has been battered by a combination of retaliatory tariffs on exports and higher input costs driven by new US levies on foreign goods used in farming.
Speaking from the White House on Monday, the president said his administration would take a “small portion” of the country’s new tariff income and redirect it to US farmers, with payments beginning early next year.
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