U.S. Treasury Secretary states that country will announce aid measure for soybean farmers

U.S. Treasury Secretary Scott Bessent stated on Thursday (2) that the federal government will support American farmers affected by China's refusal to buy U.S. soybeans, with an announcement expected for Tuesday (7). According to the consultancy Safras & Mercado, the measure aims to minimize the economic impacts on producers. Bessent highlighted that farmers overwhelmingly voted for Donald Trump in the 2024 elections and assured that the government stands with them. He criticized China's decision to use American producers as "hostages" in trade negotiations between Washington and Beijing. This has resulted in billions of dollars in lost sales, and for this reason, Trump stated that soybeans will be one of the main topics in the meeting with Chinese President Xi Jinping, scheduled for four weeks from now. The secretary emphasized that almost all recent U.S. trade agreements have included the purchase of American agricultural products, and that other countries must meet ...