By Jamie Martin
The U.S. Department of Agriculture has announced an expanded partnership with the Export-Import Bank of the United States to support agricultural exports and strengthen the farm economy. As part of this effort, USDA has launched the Financial Assurance to Revitalize Markets, or FARM, Initiative.
The FARM Initiative is designed to improve and modernize export financing programs. It focuses on expanding access to emerging markets, reducing financial risks for exporters, and ensuring that U.S. agriculture remains a reliable global supplier. The program brings together USDA’s export credit guarantees and EXIM’s export credit expertise.
“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,” said U.S. Secretary of Agriculture Brooke L. Rollins.
“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 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,” said Rollins.
EXIM Chairman John Jovanovic said the partnership creates a coordinated export financing system that helps American producers compete more fairly in global markets. The collaboration combines EXIM’s credit tools with USDA’s GSM-102 guarantees to increase confidence for buyers and lenders.
“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,” said Jovanovic.
The FARM Initiative builds on commitments announced in 2025 to expand trade finance opportunities. In early 2026, USDA introduced improved financing options under GSM-102, including an extended repayment period and wider participation from international banks. The program now offers full payment guarantees for higher-risk markets.
“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.”
In addition, EXIM will support agricultural exports through its insurance programs, complementing the $5.5 billion available under GSM-102. These combined efforts aim to increase exports, support farmers and agribusinesses, and strengthen the long-term future of American agriculture.
Photo Credit: usda
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