Summary
Treasury Secretary Scott Bessent, who is also a soybean farmer, discussed how the ongoing trade war with China is affecting U.S. farmers. China has stopped buying U.S. soybeans, which has hurt farmers' incomes. Bessent hinted at a future deal with China that might help the farmers.
Key Facts
- Scott Bessent is the U.S. Treasury Secretary and a rich soybean farmer.
- China has stopped buying soybeans from the U.S. due to a trade war.
- U.S. farmers have lost a major market worth an estimated $13 billion annually.
- Bessent owns farmland in North Dakota, generating over $1 million in rent yearly.
- He has postponed selling his farm assets despite an ethics agreement.
- Bessent believes a planned deal with China will benefit U.S. soybean farmers.
- He claims the trade war is also impacting his personal finances.
