Trump announces $12bn aid for US farmers, then cracks 'peanuts' joke with Kennedy rice mill CEO

US President Donald Trump announced a $12 billion economic assistance package for American farmers, funded from tariff revenues, calling farmers the “backbone of the country.” Speaking at the White House, Trump said tariffs had reduced trade deficits and generated billions in revenue, part of which would be redirected to support agriculture. He sharply criticised the Biden administration for high inflation, rising farm bankruptcies, and trade deficits, while highlighting renewed agricultural trade with China, Japan, and other partners. Trump also cited major purchase commitments for soybeans, rice, corn, and biofuels, saying the relief package would provide certainty for farmers ahead of future harvests.