The federal government will support America’s soybean farmers as China refuses to buy U.S. soybeans and will make an announcement on Tuesday. That announcement came from U.S. Treasury Secretary Scott Bessent.
“You’re going to see substantial support for the farmers, and we’re also going to be working with the Farm Credit Bureau to make sure that farmers have what they need for next year’s planning,” Bessent said. “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.”
China has halted its purchase of U.S. soybeans altogether since May, which likely stems from current trade war between Washington and Beijing, costing U.S. farmers billions in lost sales.
President Trump says that soybean sales will be a major topic of discussion when he meets with Chinese President Xi Jinping in four weeks.
Source: NAFB News Service
