Aug 27, 2018 - Economy

Trump's farmer bailout will cost $4.7 billion

A photo of a crop field

Corn and soybeans grow on a farm near Tipton, Iowa. Photo: Scott Olson/Getty Images

The U.S. Department of Agriculture announced details Monday of its "temporary relief" plan to help farmers who have been hit hard by retaliatory tariffs.

The details: The department will make up to $4.7 billion available to help offset the costs of the trade war. U.S. soybean farmers are expected to receive the bulk of the payments at $3.6 billion.

Go deeper