Overview

• At an Oval Office meeting with Turkey’s president, Trump said he will use some tariff receipts to provide direct relief to U.S. farmers facing trade-related losses.
• Trump recounted staff finding “$31 billion,” then referenced “$31 million,” highlighting confusion over the amount he says tariffs have generated.
• Agriculture Secretary Brooke Rollins said there is potential to leverage tariff assets for growers and suggested an announcement could come soon, but no details on amounts or distribution were provided.
• Pending court cases, including a Supreme Court review, could render the tariffs unlawful and force large refunds reportedly estimated as high as hundreds of billions to $1 trillion, which would imperil the proposed aid.
• Farm groups say they want restored export markets rather than bailouts, noting China has canceled U.S. soybean orders as it buys from South America and recalling that a prior $28 billion bailout did not restore lost market share.