Overview
- Scott Bessent told ABC's This Week he is "actually a soybean farmer" and said he has "felt this pain too" from China's halt in buying U.S. soybeans.
- Bessent also said he expects China to resume substantial purchases and suggested U.S. growers will feel good once a deal is announced, without offering specifics.
- Financial disclosures show Bessent is a former hedge fund manager worth more than $500 million who owns up to $25 million in North Dakota farmland that he leases to farmers for significant rental income.
- Treasury ethics officials have warned Bessent to avoid actions creating real or apparent conflicts as he continues working to divest remaining private holdings after pledging to do so during confirmation.
- Critics, including Sen. Andy Kim, ridiculed the "soybean farmer" claim on social media, arguing he is a wealthy investor and landlord rather than a working farmer.