Treasury Secretary Scott Bessent said on Oct. 2 that the federal government would offer “substantial support” to American farmers as China refuses to buy soybeans, indicating that an announcement would come on Tuesday.
Speaking with CNBC on Thursday, Bessent said farmers overwhelmingly voted for President Donald Trump in last year’s election and that the federal government has “got their backs.”
As the United States negotiates with China amid Washington and Beijing’s ongoing trade war, Chinese importers have not bought any U.S. soybeans from the autumn harvest, resulting in billions in lost sales for American farmers.
“It’s unfortunate that Chinese leadership has decided to use the American farmers, soybean farmers in particular, as a hostage or pawn in the trade negotiations,” Bessent said….
US Will Support Soybean Farmers During China Negotiations: Bessent
