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Reading: ‘I Voted for Trump and Now I’m Going Bankrupt’: Farmers Say the $12B Aid Is ‘A Slap in the Face’ While Corporations Pocket Billions
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Home » ‘I Voted for Trump and Now I’m Going Bankrupt’: Farmers Say the $12B Aid Is ‘A Slap in the Face’ While Corporations Pocket Billions
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‘I Voted for Trump and Now I’m Going Bankrupt’: Farmers Say the $12B Aid Is ‘A Slap in the Face’ While Corporations Pocket Billions

Maya Patel
Last updated: January 25, 2026 1:52 pm
Maya Patel
13 Min Read
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US President Donald Trump has unveiled a long-awaited US$12 billion farm aid package aimed at supporting farmers affected by the US-China trade tensions. He credited his tariff policies for making the aid possible and highlighted that his negotiations with China had contributed to the resumption of large soybean sales.

Despite the announcement, not all farmers welcomed the package, especially those still facing low prices and disrupted markets. Some argued that the support came too late and would not have been necessary if tariffs had not been imposed in the first place.

John Bartman, a soybean farmer from Illinois, described the aid as a “drop in the bucket” and noted that it roughly equaled the amount China would have purchased under normal circumstances.

Frustration remains high among many farmers, who feel caught in an avoidable predicament. Bartman added, “It’s just the stupidity of the whole situation that we’re in this mess. And why is China not upholding their end of the bargain? Why do we have to have this payment in the first place?”

The government plans to issue US$11 billion in direct “bridge payments” to crop farmers by the end of February 2026, Agriculture Secretary Brooke Rollins confirmed, while reserving US$1 billion to evaluate needs among specialty crop producers.

Trump criticized his predecessor, Joe Biden, for creating a “total mess” and causing the “highest inflation,” while asserting that the aid package would not have been possible without tariffs. He described the $12 billion in support as “a lot of money.”

During a White House roundtable, he explained, “This money would not be possible without tariffs. The tariffs are taking in, you know, hundreds of billions of dollars, and we’re giving some up to the farmers because they were mistreated by other countries for maybe right reasons, maybe wrong reasons.”

Trump also addressed a lawsuit filed by small businesses challenging a portion of his tariffs, claiming that “bad people” and “some real sleazebags” were trying to remove the levies. “The decision of the Supreme Court is a very important thing,” he said.

In November, the Supreme Court heard oral arguments in the case, which challenges the executive branch’s authority to impose broad tariffs under a declared national emergency. A ruling is expected in the first half of 2026. Earlier this year, Trump had implemented substantial tariffs on multiple trading partners using the International Emergency Economic Powers Act.

Uncertainty persists over whether tariff revenues will cover the full cost of the bailout, as Trump did not clarify the details on Monday. In September, he had suggested using Trump’s tariff policies to support farmers, though a Supreme Court ruling striking down those tariffs could prevent him from accessing that money for aid.

Farmers continue to voice frustration over losing access to the Chinese market, one of the major repercussions of Trump’s trade policies. China, the world’s largest soybean buyer, has long been a critical customer for US soybean growers, purchasing between half and two-thirds of the nation’s soybean exports.

The tensions can be traced back to 2018, when Trump launched a unilateral trade war against China. Beijing retaliated with tariffs on US agricultural products—primarily soybeans—and shifted some orders to Brazil. During that time, Trump provided $28 billion in farm aid to help farmers affected in 2018 and 2019.

Earlier this year, when new tariffs on Chinese imports were imposed, Beijing refrained from placing orders until October, opting to buy from Brazil instead.

In October, Trump met with President Xi Jinping to encourage Beijing resume its soybean purchases from the US. Farmers hope these renewed sales will stabilize the market, although questions remain about the long-term impact of both tariffs and aid.

The White House quickly announced that China had agreed to purchase 12 million metric tonnes of soybeans this year and 25 million metric tonnes annually over the next three years, though Beijing has yet to confirm these figures. Since October, China has only placed orders for about two million metric tonnes.

Trump, however, stated on Monday that China was buying “a tremendous amount of soybeans” and that his administration was “very happy with that.”

He added that the world’s second-largest economy is “going to do more” than what it had “promised” in terms of soybean purchases.

Every conversation between Trump and Xi, US Treasury Secretary Scott Bessent explained, begins with a focus on soybeans. Whether on the phone or in person, Trump reportedly asks for “more soybean purchases” at the outset.

Bessent emphasized, “We don’t talk about geopolitics. We don’t talk about trade. It’s about soybean,” while also noting that the US is exploring other markets. Japan, for example, has agreed to buy US$8 billion worth of corn, soybeans, rice, and other agricultural products.

Cordt Holub, a corn and soybean farmer from Iowa who joined Trump for the announcement, praised the aid package.

He told reporters, “It’s Christmas early for farmers. And what you’re doing here in DC, this money would not be possible without you.”

Still, some soybean growers were left disappointed. Those most affected by tariff disputes argued that the financial support falls short of what they truly need.

For Arkansas soybean farmer Randal Shelby, the newly announced aid package felt like “a slap in the face.”

“Our bills are past due and due now, all due to their actions,” he said. “[The aid] will be divided up among all other crop farmers that don’t have anything to do with soybeans.”

Shelby, who voted for Trump, pointed out that while all agricultural crops have suffered, “nowhere near as hard as the soybean farmers and the rice farmers.”

The former nurse has been teetering on the edge of bankruptcy for months. He blamed high fuel costs, rising interest rates, falling crop prices, and reduced Chinese demand amid ongoing geopolitical tensions.

He added, “It’ll be bankrupting all. And I mean, there are so many of us that are on the fence on that right now,” noting that banks were still negotiating new loans and that it was uncertain whether he would farm at all next season.

Shelby also highlighted that, despite Trump’s repeated claims that gas prices had fallen, prices have stayed above US$3 a gallon since 2021.

Echoing the struggles, Joe Maxwell, a fourth-generation farmer and co-founder of the non-partisan advocacy organization Farm Action, said in a statement that “Farmers across America are hurting.”

Joe Maxwell emphasized that Trump’s relief package, while welcome, only scratches the surface of farmers’ struggles. “[US$12 billion] is only a fraction of the losses farmers have suffered from trade wars, tariffs, and skyrocketing input costs all farmers are facing due to heavily concentrated agriculture markets,” he said.

He called for long-term reforms, adding, “We need policies that invest in growing healthy food here at home using regenerative, lower-input cost practices, not just temporary patches when the cracks show.”

Farmers are also facing rising mental stress and uncertainty, as recent reports highlight growing anxiety in rural communities about their livelihoods and the future of US-China trade relations.

Data from the Federal Reserve Bank of Minneapolis shows a sharp increase in farm bankruptcies. Filings rose to 93 in the second quarter, up from 88 in the first, and nearly double the 47 recorded at the end of 2024, with a total of 216 bankruptcies reported throughout 2024.

A July report from the University of Arkansas Division of Agriculture highlighted that in 2019, 599 Chapter 12 bankruptcies were filed nationwide—the highest in at least a decade. This type of bankruptcy allows farmers to restructure debt and continue operations. By 2021, filings had dropped to 276.

The emotional and mental toll of financial stress on farming communities has been severe, with local reports and anecdotes pointing to suicides among farmers struggling to keep their livelihoods.

Trump praised his “One Big Beautiful Bill” on Monday, which eliminated the estate tax, a federal tax on inherited property. He suggested that this measure could help prevent tragedies among farmers.

“They love their farm, and they love their business, and they love their way of life; they’d end up committing suicide, a lot of suicides,” Trump said, emphasizing the pressures faced by farmers trying to hold onto their land.

Despite these efforts, data indicates that American crop farmers are unlikely to see any substantial relief from the current measures.

The American Farm Bureau Federation recently projected significant losses for the 2025–26 crop year, with corn expected to lose US$15.1 billion, soybeans US$6.7 billion, wheat nearly US$5.9 billion, and cotton US$3.4 billion. Sorghum and rice producers are also facing losses exceeding US$1 billion each.

Farmers are bracing for higher expenses as well. The US Department of Agriculture estimates that farm production costs will reach US$467.4 billion in 2025, an increase of US$12 billion from 2024.

US soybean growers, in particular, are facing mounting pressure. A new report from the American Soybean Association predicts losses of roughly US$89 per planted acre in 2025, marking the third consecutive year of market setbacks for the crop.

A combine works through a soybean field on a farm in Marion, Kentucky, in October. Photo: AFP

Shelby noted that even if China purchases the promised soybeans by February, it won’t help farmers much, since the harvest window closes in November and they must sell their crops—often at a loss—just to pay their bills.

He also expressed frustration over the US providing US$20 billion to Argentina, a competitor in the Chinese market.

“Why does it have to take so long to attempt to help your taxpaying Americans when it only takes two seconds for them to throw 40 billion in Argentina without a vote or a congressional hearing?” he asked.

Jeff Winton, a New York farmer and founder of the non-profit Rural Minds, which focuses on farmers’ mental health, said he isn’t convinced the package is “enough and…in time,” describing it as “too little and too late.”

He explained that while farmers want stable markets for their commodities, they will “absolutely take the money because it’s a matter of survival right now, because they have no place to sell their crops.”

Winton added that farmers are “very divided” in their support for Trump, pointing out that the current crisis largely stems from policies Trump implemented during his first term, before Biden took office.

He likened the effect of large federal aid packages to a form of “Stockholm syndrome,” saying, “The person who hurt you is now your hero, because you forget what caused your issue, but you’re so grateful for the relief and the love that you’ve been shown that you forget what caused this issue.”

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2 Comments 2 Comments
  • Xbob42 says:
    February 24, 2026 at 4:19 am

    “And why is China not upholding their end of the bargain?”

    What end of what bargain?! Where do these people get these ideas?!

    Reply
  • john says:
    March 2, 2026 at 5:16 am

    glad to hear trump say that China is going to bail out american farmers🤣

    Reply

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