During a Monday round table with cabinet members, farmers and lawmakers, President Donald Trump announced the U.S. Department of Agriculture (USDA) will make $12 billion available in one-time bridge payments to American farmers in response to temporary trade market disruptions and increased production costs.

President Trump said the $12 billion represents a relatively small portion of what the United States is making on tariffs. “We’re going to be providing it to the farmers in economic assistance because, you know we love our farmers,” said Trump. “The relief will provide much needed certainty to farmers as they get this year’s harvest to market and look ahead to next year’s crops.”

Of the $12 billion provided, up to $11 billion will be used for the Farmer Bridge Assistance (FBA) Program for farmers who produce Barley, Chickpeas, Corn, Cotton, Lentils, Oats, Peanuts, Peas, Rice, Sorghum, Soybeans, Wheat, Canola, Crambe, Flax, Mustard, Rapeseed, Safflower, Sesame, and Sunflower. The remaining $1 billion of the $12 billion in bridge payments will be reserved for commodities not covered in the FBA Program such as specialty crops and sugar.

Those in attendance with the president during the announcement included Secretary of the Treasury Scott Bessent, Secretary of Agriculture Brooke Rollins, Senate Agriculture Committee Chairman John Boozman (R-AR), Senator Deb Fischer (R-NE), Senator John Hoeven (R-ND), Representative Austin Scott (R-GA), Iowa farmer Cordt Holub and Lousiana rice producer Meryl Kennedy.

Holub thanked President Trump for the early Christmas present for farmers and brought up the need for year-round E15. “You’re working for ethanol, trying to get E15 year-round,” said Holub. “We can keep America first and we can keep that E15.”

“So, E15 is a big deal?” asked Trump. “E15 is a great deal, year-round,” answered Holub. “Farmers would love you more than anything if we could do that.”

Pres. Trump farmer aid announcement 30:07

Iowa Renewable Fuels Association Executive Director Monte Shaw says year-round E15 would strengthen the farm economy without the need for future bailouts. “Farmers are really hurting in what might be the worst farm economy in 40 years. So, the immediate emergency aid is needed and appreciated. Having said that, farmers don’t want bailouts year after year; they want new markets. IRFA urges President Trump to pick up the phone, call the Congressional leaders, and ensure that nationwide, year-round E15 is enacted in the next 4 to 6 weeks. We stand ready to work with President Trump and the Iowa delegation to get E15 done.”

Shaw adds that allowing nationwide, year-round E15 sales would create the opportunity for 7 billion gallons in new ethanol demand each year, equating to over 2.25 billion bushels of new annual corn demand.