Trump eyes Iran market for US farm exports

Washington: President Donald Trump said Iran could become a significant new market for American agricultural exports as his administration pursues negotiations with Tehran following recent military action, while also announcing an additional $11 billion in relief for US farmers.

At a White House dinner honouring American farmers, Trump said the administration was preparing to expand agricultural exports to Iran and asked Congress to approve fresh financial assistance for producers affected by previous regulations.

“We began, and we have another one, a new market coming up. And that’s called the lovely Country of Iran,” Trump said.

Describing Iran as a future customer for American farm products, he added: “They’re having a hard time with food, and we’re going to be taking some of their money, and we’ll spend it, and we’re going to be buying wheat, soybeans and corn, a lot of it. And that process is going to be starting pretty soon. It’s going to be pretty big. I think it’s going to be very big.”

Vice President JD Vance has previously said Iran would be permitted to use frozen assets released by the United States to purchase American agricultural goods. Iranian officials have not publicly confirmed such an arrangement.

Trump also urged Congress to approve an additional $11 billion in assistance for farmers, saying the funding would compensate producers for losses caused by regulations under the previous administration.

“Yesterday we also called on Congress to pass a supplemental funding bill that will provide $11 billion in relief towards specialty crops and helping our great agricultural producers rebound from the losses that they had due to the Biden administration’s horrible, horrible rules and regulations,” he said.

Agriculture Secretary Brooke Rollins will oversee distribution of the assistance, Trump said, adding: “We’re going to be getting an $11 billion payment in relief to our farmers.”

The President argued that his administration had expanded overseas markets for American farm products. He cited increased access for dairy exports to Europe, Australian approval of US beef imports after more than 25 years, and China’s commitment to purchase American agricultural products.

He also highlighted domestic measures benefiting farmers, including raising the estate tax threshold, ending the federal electric vehicle mandate affecting farm equipment, allowing year-round sales of E15 fuel and rolling back the environmental regulation known as “Waters of the US.”

Trump defended the administration’s military action against Iran, saying it had strengthened Washington’s negotiating position.

“We had to go and make a U-turn,” he said. “We’re going to have to journey down to the Islamic Republic of Iran, because if we don’t do it, they’re going to have a nuclear weapon.”

He added: “We knocked the hell out of them. And now we’re negotiating from a position of pure strength.”

During the remarks, Trump also claimed the Strait of Hormuz had reopened to record levels of oil shipments and briefly said the United States would assist Venezuela following an earthquake.

The White House event brought together senior administration officials, lawmakers and farm leaders, including Agriculture Secretary Brooke Rollins, Treasury Secretary Scott Bessent, Interior Secretary Doug Burgum, Health Secretary Robert F. Kennedy Jr., Centres for Medicare and Medicaid Services Administrator Mehmet Oz, governors, senators and representatives from major agricultural states.

Dinner guests were served produce-inspired dishes and received organic garden seeds and tomato jam prepared by White House executive chefs as gifts.

The United States has long been one of the world’s largest exporters of wheat, corn and soybeans. American agricultural exports have frequently featured in US trade diplomacy, with successive administrations using food exports as part of broader economic and foreign policy negotiations.

IANS