In an interview on CBS News’ Face the Nation with Margaret Brennan, Bessent said an additional 100% tariff that President Donald Trump threatened earlier this month is “effectively off the table,” along with China’s rare earth restrictions.
“So I would expect that the threat of the 100% has gone away, as has the threat of the immediate imposition of the Chinese initiating a worldwide export control regime,” he said.
China will make “substantial” purchases of U.S. soybeans, Treasury Secretary Scott Bessent tells Margaret Brennan after trade talks with Chinese counterparts in Malaysia, adding that the global soybean market has been brought “back into equilibrium.”
Farmers have been warning of an economic crisis in rural America as crop prices fall and costs remain high, while China has held off on buying any U.S. soybeans this harvest season, despite traditionally being their top export market.
In a separate appearance on ABC’s This Week, Bessent revealed that he is also a soybean farmer: “So, I have felt this pain, too.”
He didn’t give details, but said “Soybean farmers are going to be extremely happy with this deal for this year and for the coming years.”
The Chinese are going to make substantial purchases again.
China will make “substantial” purchases of U.S. soybeans, Treasury Secretary Scott Bessent tells @margbrennan after trade talks with Chinese counterparts in Malaysia, adding that the global soybean market has been brought “back into equilibrium.”
“Soybean farmers are going to be… pic.twitter.com/OlfghnLSmd
— Face The Nation (@FaceTheNation) October 26, 2025
When the USA has a real chief executive, who knows how to run mega corporations,, leading (without courts or congress interfering) things run extremely well, When there is no chief executive (unexperienced Obama or Autopen) the country is soon on the brink of disaster.