US Will Support Soybean Farmers During China Negotiations: Bessent

China—the world’s biggest purchaser of soybeans—is now buying the crop from South America while negotiations over tariffs with the United States continue.

Treasury Secretary Scott Bessent testifies before the House Ways and Means Committee on Capitol Hill on June 11, 2025. Madalina Vasiliu/The Epoch Times

Treasury Secretary Scott Bessent said on Oct. 2 that the federal government would offer “substantial support” to American farmers as China refuses to buy soybeans, indicating that an announcement would come on Tuesday.

Speaking with CNBC on Thursday, Bessent said farmers overwhelmingly voted for President Donald Trump in last year’s election and that the federal government has “got their backs.”