"What they're saying: "It's unfortunate that Chinese leadership has decided to use American soybean farmers as a hostage or pawn in the trade negotiations," Bessent told CNBC. "You should expect some news on Tuesday on substantial support for our farmers, especially the soybean farmers - they have had President Trump's back and we have their back," Bessent said. Bessent added that he discussed the issue with Trump and Agriculture Secretary Brooke Rollins in the Oval Office on Wednesday."
"Flashback: In recent weeks, Bessent has been leading the charge in pledging support for crisis-hit Argentina. But domestic tensions about the move simmered when the South American nation sold discounted soybeans to China, undercutting U.S. farmers. What to watch: Trump administration officials have not yet signaled how the farmer payouts would be structured, or what the aggregate cost might be. The U.S. has brought in billions of dollars in tariff revenue - funds that were anticipated to help pay down federal deficits."
Soybean farmers face severe market losses after China stopped buying U.S. soybeans amid the U.S.-China trade war, eliminating the largest export market. White House adviser Bessent criticized China for using farmers as a negotiating pawn and announced imminent substantial support targeted at soybean growers after consulting with the president and the Agriculture Secretary. Recent support to crisis-hit Argentina raised domestic tension because discounted Argentine soybeans sold to China undercut U.S. producers. Administration officials have not detailed the payout structure or total cost. The administration plans to use tariff revenues to fund the aid.
Read at Axios
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