President Trump said
"I'm delighted to announce this afternoon that the United States will be taking a small portion of the hundreds of billions of dollars we receive in tariffs... We're going to use that money to provide $12B in economic assistance to American farmers," he said.

Trump confirmed the plans during a roundtable meeting with the Cabinet at the White House.

$11 billion will go to crop farmers as part of the Farmer Bridge Assistance program while the remaining $1 billion will cover other crops, The Hill reported.