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2h ago

U.S. Sets Tuesday Farm Aid Reveal as Trump Plans Xi Meeting With Soybeans on the Agenda

With China buying from Brazil and Argentina and skipping the new U.S. crop, a photographed text showed officials worried a planned Argentina lifeline aligned with rivals’ sales.

President Donald Trump meeting with Chine's President Xi for a bilateral meeting at the G20 summit in June 2019.
U.S. Treasury Secretary Scott Bessent arrives to attend the 80th United Nations General Assembly, in New York City, New York, U.S., September 23, 2025. REUTERS/Kylie Cooper
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Photo: Andrew Harnik/Getty Images

Overview

  • U.S. Treasury Secretary Scott Bessent said the administration will announce “substantial support” for farmers on Tuesday and coordinate with the Farm Credit Bureau on liquidity.
  • President Donald Trump reiterated he will direct a portion of tariff revenue to aid soybean producers hurt by China’s halt in purchases.
  • Trump confirmed he will meet China’s Xi Jinping in about four weeks at APEC, saying soybean purchases will be a major topic.
  • Chinese buyers have booked no U.S. soybeans from the current harvest, pressuring prices as lawmakers say Beijing is using farm trade as leverage.
  • After Argentina temporarily rolled back export taxes, China bought at least 10 cargoes of Argentine soybeans, and an AP photo captured a private text to Bessent expressing concern that a planned U.S. lifeline to Argentina coincided with those sales.