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2h ago

White House Readies $10–14 Billion Aid for Soybean Farmers as China Halts Purchases

Farmers say subsidies will not replace lost Chinese sales.

A combine harvester during a soybean harvest at a farm outside St. Peter, Minnesota.
Corn is loaded onto a truck as harvest continues on the Warpup Farms in Warren, Ind., Thursday, Sept. 11, 2025.
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Argentina's President Javier Milei talks after legislative provincial election polls closed in La Plata, Argentina, Sunday, Sept. 7, 2025. (AP Photo/Gustavo Garello)

Overview

  • Treasury Secretary Scott Bessent said the public could hear details of “substantial support” for farmers as soon as Tuesday, with planning centered on a $10–14 billion package.
  • Officials are weighing the use of tariff revenue and USDA emergency funds to finance the payments after China stopped buying new-crop U.S. soybeans this season.
  • China imposed about 20% retaliatory tariffs that, with other fees, have made U.S. beans uncompetitive, and Beijing has indicated purchases are unlikely to resume without tariff relief.
  • Trump plans to raise soybeans in a late-October meeting with Xi Jinping at APEC, as farmers warn time is short and buyers have booked Brazilian and Argentine cargoes into year-end.
  • Argentina’s brief suspension of export taxes enabled large sales to China following U.S. signals of a $20 billion lifeline, intensifying U.S. farmer concerns about lasting market losses.