USDA, EXIM Launch FARM Initiative to Expand Ag Exports
USDA and EXIM launch FARM Initiative to expand ag exports and improve financing access for U.S. farmers and producers.
The U.S. Department of Agriculture (USDA) has announced an expanded partnership with the Export-Import Bank of the United States (EXIM), alongside the launch of a new effort aimed at strengthening agricultural exports and improving access to trade financing for U.S. producers.
The initiative, called the Financial Assurance to Revitalize Markets (FARM) Initiative, is designed to modernize USDA’s export credit programs and support increased competitiveness in global markets.
The USDA-EXIM partnership brings together export financing tools from both agencies to expand credit availability and reduce risk for agricultural exporters. The goal is to increase domestic production, grow exports, and reduce the agricultural trade deficit.
The FARM Initiative includes updates to existing programs, expanded financing options and efforts to improve access to emerging markets. USDA says the changes are intended to provide more certainty for exporters and lenders while strengthening the reliability of U.S. agriculture in global trade.
Program Changes and Financing Updates
As part of the initiative, USDA is building on earlier updates to its Export Credit Guarantee Program (GSM-102). These include a new 18-month repayment option that allows eligible buyers to make a single payment at the end of the term rather than installments.
Additional enhancements include expanding global banking participation and offering 100 percent coverage for payment guarantees in higher-risk markets. These changes are intended to help U.S. exporters pursue new opportunities with reduced financial risk.
EXIM will complement the $5.5 billion authorized under GSM-102 with export credit insurance programs, increasing the overall scale and range of financing tools available.
What Support Is Available
Several financing tools are available to support producers and agribusinesses:
- Export credit insurance to protect against nonpayment
- Credit guarantees to encourage commercial financing
- Working capital loan guarantees to help fulfill larger export orders
USDA also plans to expand outreach efforts to improve awareness and usability of these programs.
What Officials Are Saying
“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.”
“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 Luke J. Lindberg. “Through the FARM Initiative and this historic partnership with EXIM, we are working to build a new golden age of the American farmer.”
Industry Impact
USDA states the initiative is intended to improve access to financing, reduce barriers to trade and support long-term growth in agricultural exports. By coordinating federal resources and expanding program capabilities, the agency aims to provide more consistent support for producers navigating global markets.
