Trump pick to lead USDA considering payments to farmers from trade losses

By Leah Douglas

(Reuters) – President Donald Trump’s pick to lead the U.S. Department of Agriculture on Thursday said she would consider direct payments to farmers to offset losses from proposed tariffs, modeled after the approach taken in Trump’s first term.

If confirmed, Brooke Rollins (NYSE:ROL) would lead the $200 billion agency and its nearly 100,000 employees whose broad remit includes nutrition and commodity programs, farm loans, forestry, and trade.

Trump’s tariffs on Chinese imports in his first term resulted in retaliatory tariffs on soybeans. The administration then paid billions to farmers to offset losses.

Trump has threatened to impose tariffs on China as well as Mexico and Canada.

Rollins said at her Thursday nomination hearing before the Senate Agriculture Committee that she has spoken with Sonny Perdue, Trump’s farm secretary in his first term, about how the agency managed the trade war.

“We are prepared to execute something similar, if approved, if confirmed,” she said, later adding, “we can’t reinvent the wheel.”

Some senators on the committee challenged the approach.

“What we’ve heard from our farmers and ranchers over and over again is they want to be able to do the work. They want to be able to export. They don’t want to solve this problem by getting aid,” said Michael Bennet, a Democratic senator from Colorado.

This post is originally published on INVESTING.

  • Related Posts

    Oil falls after Trump reverses Colombia sanctions threat

    By Anna Hirtenstein LONDON (Reuters) -Oil prices wavered on Monday after the U.S. and Colombia reached a deal on deportations, reducing immediate concern over oil supply disruptions but keeping traders…

    Dollar gains on tariffs fears; euro looks to ECB meeting

    Investing.com – The US dollar slipped lower Monday, rebounding after recent losses as attention returned to the potential for trade tariffs from the Trump administration at the start of a…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    CMC Invest Revamps Pricing Structure, Free Trades More Than Double

    • April 22, 2025
    CMC Invest Revamps Pricing Structure, Free Trades More Than Double

    Investors Avoid US Assets Against ‘Sell America’ Trade. Forecast as of 22.04.2025

    • April 22, 2025
    Investors Avoid US Assets Against ‘Sell America’ Trade. Forecast as of 22.04.2025

    Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 22.04.2025

    • April 22, 2025
    Short-Term Analysis for BTCUSD, XRPUSD, and ETHUSD for 22.04.2025

    24/7 Derivatives Trading and Perpetual Futures in the US: CFTC Seeks Feedback

    • April 22, 2025
    24/7 Derivatives Trading and Perpetual Futures in the US: CFTC Seeks Feedback