Bessett touts China talks to aid soybean farmers | JQJO

Treasury Secretary Scott Bessett said he has “felt pain” from China’s halt on U.S. soybeans, telling ABC’s This Week, “I’m actually a soybean farmer.” He said two days of talks produced a “substantial framework” he believes will ease growers’ worries, ahead of President Donald Trump’s meeting with China’s Xi Jinping in South Korea. China bought more than half of U.S. soybeans in 2023 and 2024—nearly $12.8 billion in 2024—before stopping purchases after Trump ignited a trade war earlier this year. Disclosures show Bessett owns North Dakota farmland; he predicted farmers will “feel very good” when a deal is announced.