After a meeting between Donald Trump and Chinese dictator Xi Jinping it was announced that China would again by US soybeans. The amount is notably less than it was under President Biden last year, as reported by Politico’s Megan Messerly and Phelim Kine:
[Treasury Secretary Scott] Bessent, speaking on Fox business Thursday morning, said that China has agreed to buy 12 million metric tons of soybeans between now and January and 25 million metric tons each year for the next three years after that. The U.S. exported nearly 27 million metric tons of soybeans to China in 2024.
Reality didn’t get in Trump’s way as usual, as today talking to reporters on Air Force One, he claimed that the 25 million metric tons in future years is “a numbers that they’ve never seen before in terms of the soybeans.” He then stated to farmers, “I suggest that they go out and buy larger tractors and more land. Okay? We want larger tractors and more land because nobody’s ever seen anything like it.”
Bessent didn’t disclose if some of the soybeans being sold to china would come from his farm.
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