Trump: Some tariff revenue will go to US farmers

(NewsNation) — President Donald Trump plans to distribute "some of that tariff money" to American farmers to offset damage done by the levies, he announced Thursday at a bilateral meeting with Turkish President Recep Tayyip Erdogan.

"We're going to give it to our farmers who are, for a little while, going to be hurt," Trump said. "Until it kicks in, the tariffs kick in, to their benefit."

The nation's agriculturalists have voiced concern with Trump's tariffs, especially on China, which is the top buyer for American soybeans and sorghum. The tariffs have led to fewer overseas orders for farmers, who say their usual customers have turned to other suppliers.

“I’m not optimistic that China is going to come back and buy in droves, which is really what we need,” Iowa farmer David Weaver told NewsNation. “China has been our best soybean customer for years, for decades. And when your best customer starts having doubts, then that isn’t good for the farm economy.”

"Ultimately, the farmers are going to be making a fortune," he added. "It's a process, it has to kick it on."

Agricultural policy experts have said those markets may be gone for good, even if tariffs are lifted.

Trump said tariffs have brought $31 billion to the U.S., though hard data for that number has not been publicly released. A chunk of that revenue will go to making sure "our farmers are in great shape," Trump said.

The exact amount of money for each farmer — and how it would be disseminated — was not made immediately clear.

Back in April, Agriculture Secretary Brooke Rollins told NewsNation the administration was working on a package to help mitigate damage done by tariffs to U.S. farmers “if necessary."