The Trump administration is cutting 90% of USAID foreign aid contracts, according to the Associated Press.

The Trump administration is terminating over 90% of contracts from the U.S. Agency for International Development (USAID) and the State Department for foreign aid, reducing the total amount of American assistance worldwide by $60 billion. This was reported by Associated Press citing an internal memo from the executive office of the president and documents related to one of the federal lawsuits.

The agency notes that this disclosure sheds light on the extent of the administration's withdrawal from foreign aid, as well as on decades of American policy where foreign aid served Washington's interests by stabilizing other countries and economies, and building alliances.

The document states that officials plan to make further changes in how USAID and the State Department provide foreign aid to "use taxpayer money wisely to promote American interests."

Overall, the Trump administration announced that it would cancel 5,800 out of 6,200 multi-year USAID contracts, cutting them by $54 billion. Additionally, another 4,100 out of 9,100 State Department grants will be canceled, reducing them by $4.4 billion.

Associated Press highlights that the decision to terminate 90% of contracts was made following a court ruling that lifted the ban on funding foreign aid until midnight on February 26.

It is worth noting that earlier, American President Donald Trump referred to USAID as a "fraudulent," extremely corrupt agency and called for its closure.

On February 4, the White House published a list of USAID expenditures. The published list included funding for tourism in Egypt, a "transgender comic" in Peru, and electric vehicles for Vietnam.