(WASHINGTON D.C.) — On Thursday, U.S. Treasury Secretary Scott Bessent said that “substantial support” is coming for American farmers amid a lack of Chinese buying of U.S. commodities, particularly soybeans, and that an announcement will be made on Tuesday.
“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. “You should expect some news on Tuesday (Oct. 7) on substantial support for our farmers, especially soybean farmers. They have had President Trump’s back and we have their back.”
Reuters is reporting that Bessent said he met with Trump and Agriculture Secretary Brooke Rollins in the Oval Office on Wednesday to discuss the situation as Chinese importers have not yet bought soybeans from the current U.S. harvest as the trade war between Washington and Beijing continues, costing U.S. farmers billions of dollars in lost sales.
“On Tuesday, 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 the farmers have what they need for next planting season,” Bessent said. It will be very helpful for Trump and China’s Xi to meet in person and set the framework for trade going forward, Bessent said.
In a Truth Social post on Wednesday, President Trump said that soybeans would be a major topic of discussion when he meets with Chinese President Xi Jinping in four weeks.
The news of support for farmers comes after last week’s news that the U.S. was looking at a $20 billion bailout to Argentina. The Argentinian government last week suspended export taxes on commodities and sold large amounts of discounted soybeans to China, undercutting U.S. farmers during the normal window of sales from the U.S. harvest to China. Multiple outlets, including CNN, reported on the leaked photo of Secretary Bessent’s phone from the X account of grain trader Ben Scholl. The photo showed a text from a contact named “BR,” presumed to be US Agriculture Secretary Brooke Rollins, who sounded the alarm on what Argentina’s massive bailout means for America’s soybean farmers.
If this isn’t AI, I did not kill myself. https://t.co/w37rBdwUMe
— Ben Scholl (@ottoscholl) September 26, 2025
As the American Soybean Association put it, “U.S. soybean prices are falling, the harvest is underway, and farmers read headlines about not securing a trade agreement with China, but that the government is extending billions to Argentina.”
There is no word yet on what the exact announcement will be from the Trump Administration in terms of aid to U.S. farmers next Tuesday.
