|
(Washington, D.C., April 29, 2026) – Today, the U.S. Department of Agriculture (USDA) announced an expanded partnership with the Export-Import Bank of the United States (EXIM) to increase domestic agricultural production and exports, while reducing the agricultural trade deficit. Alongside this partnership, USDA is formally launching the Financial Assurance to Revitalize Markets, or FARM, Initiative, a comprehensive effort to strengthen and modernize its export credit guarantee program in support of U.S. agricultural competitiveness.
The FARM Initiative serves as the umbrella for a series of program improvements and activities designed to enhance access to emerging markets, increase certainty for exporters and lenders, and ensure that U.S. agriculture remains a reliable and resilient partner in global trade. The new USDA-EXIM partnership brings together USDA’s export financing programs and EXIM’s role as the official export credit agency of the United States. By coordinating these tools, both agencies aim to create new opportunities for American farmers and agricultural producers, expand available financing and credit programs, and support increased sales of U.S. agricultural products overseas.
“Since January 20, 2025, President Trump has initiated the most aggressive foreign trade agenda in American history. The President and his entire trade team have traveled the world to successfully negotiate over two dozen trade deals, expanding unprecedented market access for American farmers and ranchers. Over the last four years, our trade agenda favored foreign competitors over America’s farmers, ranchers, and producers. This led to a $50 billion projected agricultural trade deficit, when under President Trump we had a surplus. In the last year we cut this in half with corn exports up 29%, ethanol exports up 11%, and dairy exports up 15%,” said U.S. Secretary of Agriculture Brooke L. Rollins. “This new partnership between USDA and EXIM is exactly the new thinking and the comingling of the brightest minds in government that is needed to fully utilize every single available resource to boost ag exports, improve the ag economy, and return to an era of long-term stability and profitability in rural America.”
“American agriculture is a foundation of our national strength and for too long, U.S. producers were forced to compete on an uneven playing field. Under President Trump’s leadership, we’re changing that,” said Export-Import Bank Chairman John Jovanovic. “By pairing EXIM’s export credit tools with USDA’s GSM-102 guarantees, we’re delivering a stronger, more coordinated approach to export financing—reducing risk, opening new markets, and putting more American-grown products in the hands of buyers worldwide.”
Under Secretary for Trade and Foreign Agricultural Affairs Luke J. Lindberg announced both the FARM Initiative and the USDA-EXIM partnership during the EXIM 2026 Annual Conference in Washington, D.C.
“USDA and EXIM share an interest in promoting agricultural exports and reclaiming the United States’ status as the breadbasket to the world,” said Under Secretary Lindberg. “Through the FARM Initiative and this historic partnership with EXIM, we are working to build a new golden age of the American farmer.”
The FARM Initiative builds on Secretary Rollins’ and Under Secretary Lindberg’s announcement in September 2025 outlining a renewed commitment to expanding trade finance opportunities for American farmers, ranchers, and agribusinesses. On February 3, 2026, as an early action under FARM, USDA introduced expanded financing options under the Export Credit Guarantee Program (GSM-102), including a new 18-month repayment option that allows eligible buyers to make a single payment at the end of the term instead of installments. Today, USDA is advancing additional enhancements under FARM by expanding global banking participation to widen access to trade finance and for higher-risk markets, offering 100 percent coverage for payment guarantees so U.S. exporters can confidently pursue new opportunities.
EXIM will complement the $5.5 billion authorized under GSM-102 with its export credit insurance programs, significantly increasing both the scale and mix of export financing tools available to promote U.S. agricultural exports. The FARM Initiative will also include extensive outreach to stakeholders and participants to improve usability, promote market awareness, and ensure these tools effectively support American agriculture.
Immediate Resources for Producers and Agribusinesses
-
EXIM’s Export Credit Insurance provides competitive credit terms to foreign buyers while helping protect U.S. exporters against nonpayment.
-
USDA’s GSM-102 program reduces financial risk for American exporters, guaranteeing credit to encourage commercial financing for the sale of U.S. products.
-
Working Capital Loan Guarantees ensure businesses have the cash flow to fulfill larger export orders and move their products into international markets.
To learn more about USDA’s export market and financing programs, visit www.fas.usda.gov/programs.
###
|
