President Donald Trump announced that the United States has reached a deal with China to restart the purchase of soybeans after months of boycotts that hurt American farmers.
‘I was extremely honored by the fact that President Xi authorized China to begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products.’
China, the world’s largest soybean buyer, attempted to use the boycott as a powerful bargaining chip in trade negotiations. It resumed purchases ahead of Trump’s meeting with Chinese leader Xi Jinping, buying two cargoes of soybeans, Bloomberg reported.
Secretary of Agriculture Brooke Rollins called the recent purchase “a great start.”
“Today’s purchase by China of multiple ships of American soybeans signals [President Trump’s] strong dealmaking and a positive step forward for our farmers,” Rollins wrote. “This purchase, coming directly ahead of the Trump-Xi talks, shows that America means business and that we will restore balance, give U.S. producers the opportunities they’ve earned, and send a message that when America leads in agriculture, the world listens.”
Trump told reporters on Thursday that China has plans to buy “tremendous amounts of soybeans and other farm products immediately.”
While the president did not specify the scale or timing of those purchases, Treasury Secretary Scott Bessent stated that China had agreed to buy 12 million metric tons of soybeans by January, according to Fox Business. China is expected to purchase at least 25 million metric tons each year over the next three years, he added.
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Photo by Scott Olson/Getty Images
Bessent estimated that Trump’s recent trip to Asia could yield $2 trillion in U.S. investments, Fox Business reported.
“Our great soybean farmers, who the Chinese used as political pawns, that’s off the table, and they should prosper in the years to come,” Bessent told the news outlet.
Trump called his meeting with Xi “truly great,” writing in a post on social media, “There is enormous respect between our two Countries, and that will only be enhanced with what just took place.”
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Treasury Secretary Scott Bessent. Photo by Kevin Dietsch/Getty Images
“We agreed on many things, with others, even of high importance, being very close to resolved,” Trump continued. “I was extremely honored by the fact that President Xi authorized China to begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products.”
Trump noted that farmers will “be very happy” about this trade development and encouraged them to “immediately” purchase “more land and larger tractors” to keep up with the expected demand.
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