On Monday, former President Donald Trump is set to announce a $12 billion relief package aimed at supporting the struggling agricultural sector, as escalating prices cause concern within the White House.

Trump will present the initiative during a roundtable discussion, joined by Treasury Secretary Scott Bessent, Agriculture Secretary Brooke Rollins, alongside lawmakers and farmers.

Farmers from traditionally Republican states, who have been strong supporters of Trump, are now experiencing significant economic challenges due to his trade disputes, especially with China, a major consumer of American soybeans.

Earlier this year, Trump halted soybean exports to China, which had been the largest global buyer, until reaching a new agreement in October. China typically imports around 29 million metric tons of soybeans, crucial for its expansive pork industry.

As rising grocery prices burden households and farm revenues decline, the Republican Party is concerned about a potential repeat of the economic backlash that affected Joe Biden in 2024 if rapid assistance isn’t provided to the agricultural sector before the 2026 elections.

Amid White House panic over soaring prices, Treasury Secretary Scott Bessent admitted Chinese tactics left soybean farmers hung out to dry during the stalled negotiations.

‘These prices haven’t come in, because the Chinese actually used our soybean farmers as pawns in the trade negotiations,’ he told CBS’ Face the Nation on Sunday.

The White House says the aid is meant to help farmers who have suffered from trade wars with other nations, inflation, and other ‘market disruptions.’

Donald Trump (left) and China’s President Xi Jinping pose for photos as they arrive for talks at the Gimhae Air Base, in South Korea, October 30

A farmer carries ears of corn out of a cornfield in Howard County, Iowa, August 20

The president will unveil the plan at a White House roundtable with Treasury Secretary Scott Bessent, Agriculture Secretary Brooke Rollins (pictured, left), lawmakers and farmers

In October, after Trump met Chinese leader Xi Jinping in South Korea, the White House said Beijing had promised to buy at least 12 million metric tons of soybeans by the end of the calendar year, plus 25 million metric tons a year in each of the next three years.

China has purchased more than 2.8 million metric tons of soybeans since Trump announced the agreement at the end of October.

That’s only about one quarter of what administration officials said China had promised, but Bessent has said China is on track to meet its goal by the end of February.

During his first presidency, Trump also provided aid to farmers amid his trade wars. 

He gave them more than $22 billion in 2019 and nearly $46 billion in 2020, though that year also included aid related to the COVID-19 pandemic.

Trump has also been under pressure to address soaring beef prices, which have hit records for a number of reasons.

Demand for beef has been strong at a time when drought has cut US herds and imports from Mexico are down due to a resurgence in a parasite. Trump has said he would allow for more imports of Argentine beef.

A farmer feeds his cattle at his farm in Washington, Iowa, August 23

Donald Trump and Treasury Secretary Scott Bessent listen as National Economic Council Director Kevin Hassett speaks, at the White House in Washington, DC, September 5

He also had asked the Department of Justice to investigate foreign-owned meat packers he accused of driving up the price of beef, although he has not provided evidence to back his claims.

On Saturday, Trump signed an executive order directing the Justice Department and Federal Trade Commission to look at ‘anti-competitive behavior’ in food supply chains – including seed, fertilizer and equipment – and consider taking enforcement actions or developing new regulations.

With Trump’s economic approval hovering in the mid-40 percent range overall and facing particular pressure in key GOP strongholds, the $12 billion package is seen within the party as a crucial measure to prevent a voter backlash in 2026 fueled by concerns about stagnant wages and inflation’s lasting impact.