The National Peasants' Party (also known as the National Peasant Party or National Farmers' Party; Romanian: Partidul Național Țărănesc, or Partidul Național-Țărănist, PNȚ) was an agrarian political party in the Kingdom of Romania. It was formed in 1926 through the fusion of the Romanian National Party (PNR), a conservative-regionalist group centred on Transylvania, and the Peasants' Party (PȚ), which had coalesced the left-leaning agrarian movement in the Old Kingdom and Bessarabia. The definitive PNR–PȚ merger came after a decade-long rapprochement, producing a credible contender to the dominant National Liberal Party (PNL). National Peasantists agreed on the concept of a "peasant state", which defended smallholding against state capitalism or state socialism, proposing voluntary cooperative farming as the basis for economic policy. Peasants were seen as the first defence of Romanian nationalism and of the country's monarchic regime, sometimes within a system of social corporatism. Regionally, the party expressed sympathy for Balkan federalism and rallied with the International Agrarian Bureau; internally, it championed administrative decentralization and respect for minority rights, as well as, briefly, republicanism. It remained factionalized on mainly ideological grounds, leading to a series of defections.
With its attacks on the PNL establishment, the PNȚ came to endorse an authoritarian monarchy, mounting no resistance to a conspiracy which brought Carol II on the Romanian throne in 1930. Over the following five years, Carol manoeuvred against the PNȚ, which opposed his attempts to subvert liberal democracy. PNȚ governments were in power for most of the time between 1928 and 1933, with the leader Iuliu Maniu as its longest-serving Prime Minister. Supported by the Romanian Social Democrats, they expanded Romania's welfare state, but failed to tackle the Great Depression, and organized clampdowns against radicalized workers at Lupeni and Grivița. This issue brought Maniu into conflict with the outlawed Romanian Communist Party, though the PNȚ, and in particular its left, favored a Romanian popular front. From 1935, most of the centrist wing embraced anti-fascism, outvoting the PNȚ's far-right, which split of as a Romanian Front, under Alexandru Vaida-Voevod; in that interval, the PNȚ set up pro-democratic paramilitary units, or Peasant Guards. However, the party signed a temporary cooperation agreement with the fascist Iron Guard ahead of national elections in 1937, sparking much controversy among its own voters.