Summary
Treasury Secretary Scott Bessent sold his soybean farm and acknowledged that farmers need government assistance in spite of a trade agreement with China. He emphasized the need for stable, long-term purchase deals to help farmers, while the government plans temporary payments to support them in the meantime.
Key Facts
- Scott Bessent, the Treasury Secretary, sold his soybean farm due to an ethics agreement.
- Soybean prices are high, but farmers still require federal aid.
- Bessent believes long-term purchase agreements with China are essential for farmers.
- Before the recent trade deal, China had stopped buying U.S. soybeans, which affected farmers.
- Agriculture Secretary Brooke Rollins announced upcoming government payments to farmers.
- Farmers' aid aims to support them until trade deals are fully completed.
- Bessent claimed media reports overstate economic issues, and he stated real incomes are rising.
- The size and terms of the financial aid for farmers have not yet been specified.
