Trump promised farmers $8 billion amid rising fuel prices

In the height of harvesting operations, when farmers are engaged in harvesting and livestock transportation, they face the fact that diesel prices have turned out to be more than $2.50 per gallon higher than a year earlier. According to the AAA auto club, the national average for diesel was $6.30 per gallon, which exceeds last year's figures by more than 70%. Due to difficulties at oil refineries and supply disruptions related to the war with Iran, inputs such as fertilizer and seed have also risen significantly in price.

According to the September forecast of the USDA, production expenses will increase by 4.5%, and net farm income will decrease by 2.6% for the year. Meanwhile, fuel and oil costs are expected to rise by almost 30%. President Donald announced the launch of a new harvest fuel assistance program for farmers, which is to provide $8 billion to compensate for diesel expenses.

Earlier, the administration announced a $12 billion farmer assistance package, as well as an executive order facilitating the use of red-dyed tax-free diesel fuel. Despite these measures, financial pressure persists due to tight margin conditions, tariffs, unfavorable trade agreements, and the narrowing of international markets amid retaliatory tariffs.