Gov. Kathy Hochul today will propose a $30 million relief fund for New York dairy and specialty crop farmers facing higher costs from President Donald Trump\u2019s tariffs on imported goods.<\/p>\n
Hochul\u2019s office said the relief fund is among the priorities the governor will include in her 2026 State of the State address<\/a> outlining her vision for New York. Hochul plans to deliver her address at 1 p.m. in the Hart Theatre in Albany.<\/p>\n The Trump administration last month announced it would make $12 billion worth of one-time payments <\/a>available to farmers whose costs have soared due to federal tariffs. <\/p>\n Those federal payments would reach farmers on Feb. 28 for major covered commodities such as soybeans, corn, and wheat. Payments will be capped at $155,000 per farm or person.<\/p>\n But the U.S. Department of Agriculture program won\u2019t provide any meaningful support for dairy farms and specialty crop farmers, according to state officials.<\/p>\n To make up for some of the tariff-related losses, Hochul wants to establish the Agricultural Resiliency Against Tariffs Program.<\/p>\n Eligible growers, livestock producers and dairy farmers in New York would be able to apply for direct payments from the state to offset rising costs from the tariffs, the governor\u2019s office said.<\/p>\n \u201cWashington Republicans have turned their backs on our farmers, advancing crippling tariffs that are causing costs to rise across the board,\u201d Hochul said in a statement. \u201cBy providing direct tariff relief, extending the refundable investment tax credit and advancing an additional round of the Dairy Modernization Program, New York is stepping in to provide real support to our farmers when they need it most.\u201d<\/p>\n Details on how farmers would apply for the payments and eligibility requirements will be included in Hochul\u2019s budget proposal later this month, a spokesperson said.<\/p>\n New York\u2019s 30,000 farms have seen prices rise over the past year for essential items like seed, fertilizer and farm machinery because of tariffs on imports, while being hit hard by retaliatory tariffs from traditional trade partners like Canada and Mexico. <\/p>\n More than 20 percent of farm income in New York state comes from exports, while more than 80 percent of agrochemical imports and 70% of farm machinery imports come from nations subject to U.S. tariffs, according to the state Department of Agriculture and Markets.<\/p>\n