#TrumpTariffs

Trump tariffs live updates: US unveils $12B bailout for US farmers; Trump threatens 5% Mexico increase

President Trump on Monday unveiled $12 billion in aid to US farmers, as the agricultural sector deals with the fallout from his sweeping tariff policies.

The sector has been hit particularly hard from the president's ever-changing trade policies, as farmers have struggled to sell crops and been hit by higher costs. Soybean exports have come in particular focus, with trade slowing to a crawl as China virtually halted its purchases before the countries agreed to a trade truce in October.

Trump said the money for farm relief would come from a "small portion" of tariff-related revenues.

The farm bailout comes as US Supreme Court is poised in the weeks ahead to decide the legality of the majority of President Trump's tariffs. The president invoked the International Emergency Economic Powers Act (IEEPA) to levy blanket tariffs on goods from other countries. But Congress is the branch of the US government with oversight of taxation and spending — not the president.

The push to reduce food prices comes after electoral wins for Democrats across a number of key state and local races where candidates stressed affordability concerns. Trump has also in recent weeks floated the possibility of a tariff "dividend" for many Americans in the form of a $2,000 check.