President Donald Trump announced a total $12 billion in funding to help American farmers during an event on Monday, and said that it would come from tariff revenue.
“I’m delighted to announce this afternoon that the United States will be taking a small portion of the hundreds of billions of dollars we receive in tariffs. … and we’re going to be giving and providing it to the farmers in economic assistance. And we love our farmers,” the president said.
The package includes $11 billion in one-time payments to crop farmers through a new Department of Agriculture bridge payment program. The remaining funds will then go to other crops not covered by that program.