Agriculture Secretary Sonny Perdue says the plan will help a broad number of farmers deal with the cost of "disruptive markets" as USA trading partners have retaliated for President Donald Trump's tariffs on imported goods.
The $12 billion in funding will arrive through direct assistance, a food purchase and distribution program, and a trade promotion program, all paid for by US taxpayers.
"Farmers will be the biggest beneficiaries", Trump told the crowd gathered inside Kansas City's Municipal Auditorium.
"This is a short-term solution that will give President Trump and his administration time to work on long-term trade deals that benefit agriculture and all sectors of the economy", US Agriculture Secretary Sonny Perdue said.
The Agriculture Department was expected to announce the proposal that would include direct assistance and other temporary relief for farmers, according to two people briefed on the plan, who were not authorized to speak on the record.
The Trump administration was set to announce billions of dollars in aid for USA farmers on Tuesday to help protect them from the repercussions of trade spats between the United States and China, the European Union and others, a source familiar with the plan told Reuters.
Trump has slapped tariffs on billions of dollars' worth of imports, and has shown few signs of slowing.
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The supports would be a balm to producers who are seeing prices drop and inventories rise because of disputes with China, Canada and other trade partners who are significant purchasers of USA pork, soybeans and other crops. Trump has threatened to ratchet that up to more than $500 billion, a move that has left financial markets uneasy.
President Trump on the state of the economy and efforts to improve US trade deals. "It's as simple as that".
The administration has also engaged in hardline trading negotiations with Canada and European nations, seeking to renegotiate agreements he says have undermined the nation's manufacturing base and led to a wave of job losses in recent decades. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that previous year totaled $335 billion.
Products from every one of the 50 states - from candy to crab pots to horseshoes and space suits - will be on display at the White House for Monday's "Made in America Product Showcase".
"The programs we're announcing today are a firm statement that other nations can not bully our agricultural producers to force the United States to cave in", Agriculture Secretary Sonny Perdue said.
If Trump imposes a 25 percent tariff on imports of cars, trucks and auto parts, it "risks dragging us all down to a game of tit for tat retaliations that ultimately leave consumers in the U.S.as well as in Europe worse off", said Professor Alexander Mattelaer of the Egmont Institute think tank.
"Tariffs are the greatest!".
Trump's message comes ahead of his meeting with European Commission President Jean-Claude Juncker in Washington, D.C. on Wednesday.