Trump announces $8 billion for farmers to offset soaring diesel costs - Yahoo Finance
President Trump announced an $8 billion 'Harvest Fuel Relief Program' to help U.S. farmers offset soaring diesel costs ahead of the midterm elections. The one-time payments come as global conflicts and refining constraints push fuel prices to record highs.
Why it matters
Demonstrates government intervention in agricultural economics to counter high energy costs and influence political sentiment before an election.
Trump announces $8 billion for farmers to offset soaring diesel costs Ines Ferré · Senior Business Reporter Tue, October 20, 2026 at 7:13 PM GMT+8 2 min read BZ=F -0.45% CL=F -0.41% HO=F -1.38% RB=F +0.05% President Trump announced an $8 billion aid package on Monday to help US farmers pay for diesel this harvest season.
The relief program, announced at a campaign rally in Kansas and on social media, aims to bring down fuel costs for Americans ahead of next month's midterm elections.
"Tonight, I am also pleased to announce that the Department of Agriculture will be launching a new 'Harvest Fuel Relief Program,' providing our Farmers with 8 BILLION DOLLARS in support to offset Diesel costs during this Harvest Season," Trump's account posted on Truth Social ( DJT ).
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