China has committed to purchasing 25 million metric tons of U.S. soybeans annually as part of a three-year trade agreement, according to Treasury Secretary Scott Bessent.
Speaking on Fox Business Network’s “Mornings with Maria” on Thursday, Bessent announced that the initial phase of the deal will see China purchase 12 million metric tons of soybeans between now and January.
Bessent noted the significance for American producers, stating, “our great soybean farmers, who the Chinese used as political pawns, that’s off the table, and they should prosper in the years to come.”
The agreement signals a major increase in agricultural trade and offers stability for the U.S. soybean market.
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