Mr. Trump declared early Tuesday. At current prices, most farmers lose money on corn, soybeans and pigs.
The publication said that - according to two people familiar with the plans - the aid would be announced by the United States Department of Agriculture and would come through direct assistance programs.
House Speaker Paul Ryan said he understood Trump's plan and called his goal a "good one" but ultimately said House Republicans do not agree with the practice.
Farm products have borne the brunt of tariffs imposed by trading partners angered by United States trade actions, and Agriculture Secretary Sonny Perdue said the aid program will provide relief. Ron Johnson (R-WI). I have an idea for them.
An announcement could come as soon as Tuesday.
He added: "Pretend someone smashed your vehicle, and then someone said, 'Don't worry, I will give you a ride to the next place you have to go.' Well, thank you, I appreciate the ride, but what am I going to do the next 10 rides I need after that?"
'Tariffs are taxes that punish American consumers and producers, ' Kentucky GOP Sen. China purchased $100 million of Washington cherries a year ago, Sandison said.
"We're in the best position to be the lowest cost, most efficient producer in the world if we have access to a level playing field", he said. "At the end of the line, producers are going to be producing them at a loss".
It's hoped the short term plan announced by the president will help farmers like Phillips.
"This is a short-term solution that will give President Trump and his administration the time to work on long-term trade deals", said Agriculture Secretary Sonny Perdue.
"Targeted bailouts are anti-capitalist and won't begin to cover damages from trade war", Mr. Scaramucci tweeted.
And the general reaction from farmers, many of whom would benefit from the payments, is that it's a short-term fix that won't work in the long run. The Senate has several key races in agriculture-dependent states like Missouri, North Dakota, and in this November.
Farmers have been hit especially hard after our trade partners issued retaliatory tariffs on billions of dollars worth of goods following Trump's 25% and 10% tariffs on steel and aluminum, respectively.
Later this week, Trump will visit Iowa and IL, two other farm-belt states, as he seeks to shore up support for Republican candidates in the U.S. Midwest.
Ebert is waiting to see the details of the aid package.
Two days before President Trump is to face farmers in Iowa, the administration announced on Tuesday it would spend up to $12 billion, with the largest share going to row crop and livestock producers, to offset the impact of the tit-for-tat tariff war facing US exports. It's as simple as that - and every body's talking!
The moves have been unsettling to lawmakers with districts dependent upon manufacturers and farmers affected by the retaliatory tariffs.
Other Republicans backed the president.
White House Deputy Press Secretary Hogan Gidley told reporters aboard Air Force One on the way back to Washington from Missouri that 'the president will stand up for the farmers'. "This is the right fight to have but in the meantime our producers have got to ... live, while this fight's going on". And he'll do everything he can to protect them, ' Gidley said.
It is a clear signal the U.S. President Donald Trump is determined to stick with tariffs as his weapon of choice in the conflict.
It will rely on the Department of Agriculture's authority to stabilize the farm economy by buying excess supply. "This bailout compounds bad policy with more bad policy". "If tariffs punish farmers, the answer is not welfare for farmers - the answer is remove the tariffs".
Heat wave kills more than 50 in Japan, South Korea
The Greater Tokyo Area also set an all-time high temperature on Monday as the mercury climbed to 40.8 C (105.4 F). Since 9 July, 40 people have died in Japan, and around 10 have died in South Korea .
President calls taping 'unheard of and perhaps illegal'
Since then, Cohen has publicly distanced himself from the president and remains under investigation by the government. With his tweet, Trump signaled open warfare on Cohen, a longtime fixer he had until now tried to keep by his side.