US to Support Soybean Farmers Amid China Lag, Expect News Tuesday, Bessent Says

U.S. Treasury Secretary Scott Bessent said on Thursday the federal government would support American farmers in light of China's refusal to buy soybeans and that an announcement would be made on Tuesday.

American farmers overwhelmingly voted for President Donald Trump in the 2024 presidential election, Bessent said.

"We've got their backs," he added.

Chinese importers have not yet bought soybeans from the autumn U.S. harvest during the trade war between Washington and Beijing, costing U.S. farmers billions of dollars in lost sales...

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