In a move to support U.S. farmers facing financial distress due to Chinese tariffs and falling commodity prices, Trump unveiled a $12 billion aid package. This includes $11 billion for row crop farmers and additional funds for specialty crops, while also promising more soybean purchases from China.
The US Treasury is negotiating a $20 billion financial support package for Argentina, impacting US soybean farmers as Argentina ramps up soybean exports to China. American farmers express frustration over lost market share and falling prices.
In a surprising move, eight OPEC+ countries have agreed to increase oil output by 411,000 barrels per day for June, following a similar rise in May. This decision, amid U.S.-China trade tensions and falling prices, has analysts speculating on future market impacts.