USDA and Export-Import Bank launch expanded partnership and FARM Initiative to boost the US agricultural exports

The US Department of Agriculture (USDA) has 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 collaboration, USDA is formally launching the Financial Assurance to Revitalize Markets (FARM) Initiative, a comprehensive effort to strengthen and modernise its export credit guarantee program to enhance US agricultural competitiveness on the global stage.

John Jovanovic, Chairman, Export-Import Bank, said,  “American agriculture is a foundation of our national strength, and for too long, US producers were forced to compete on an uneven playing field. Under President Trump’s leadership, we’re changing that.

“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.” 

The FARM initiative: A framework for export growth

The FARM Initiative serves as an umbrella for a series of program improvements and activities designed to enhance access to emerging markets. 

This increases certainty for exporters and lenders, and ensures that US agriculture remains a reliable and resilient partner in global trade. 

By coordinating USDA’s export financing programs with EXIM’s role as the official export credit agency of the United States, the partnership aims to create new opportunities for American farmers and agricultural producers, expand available financing and credit programs, and support increased sales of US agricultural products overseas.

Luke J. Lindberg, Under Secretary for Trade and Foreign Agricultural Affairs, announced both the FARM Initiative and the USDA-EXIM partnership during the EXIM 2026 Annual Conference in Washington, D.C. He said, “USDA and EXIM share an interest in promoting agricultural exports and reclaiming the United States’ status as the breadbasket to the world. Through the FARM Initiative and this historic partnership with EXIM, we are working to build a new golden age of the American farmer.”

Brooke L. Rollins, the US Secretary of Agriculture, said, “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 travelled 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 favoured 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%.”

He added, “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 utilise 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.”

Program enhancements and early actions under FARM

The FARM Initiative builds on prior commitments made by Secretary Rollins and Under Secretary Lindberg in September 2025 to expand trade finance opportunities for American farmers, ranchers, and agribusinesses. 

On February 3, 2026, USDA expanded financing options under the Export Credit Guarantee Program (GSM-102) by introducing an 18-month repayment option. 

This would allow eligible buyers to make a single payment at the end of the term instead of in instalments.

Further enhancements under FARM include i) expanding global banking participation to widen access to trade finance and support higher-risk markets ii) offering 100% coverage for payment guarantees, enabling US exporters to confidently pursue new opportunities

EXIM will complement the $5.5 billion authorised under GSM-102 with its export credit insurance programs, significantly increasing both the scale and mix of export financing tools available to promote US agricultural exports.

The Initiative will also include extensive outreach to stakeholders and participants to improve usability, promote market awareness, and ensure that these tools effectively support American agriculture.