On the heels of U.S. President Donald Trump’s meeting with Chinese President Xi Jinping, Treasury Secretary Scott Bessent told FOX Business’ Maria Bartiromo that China has agreed to purchase millions of metric tons of U.S. soybeans in the coming years.
During an appearance on “Mornings with Maria,” Bessent said China agreed to purchase 12 million metric tons of the crop “during this season,” which he indicated is “between now and … should be January.”
He then added China should purchase at least 25 million metric tons of soybeans each year during the next three years.
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Bessent said that he thinks Trump’s trip to Asia may ultimately yield $2 trillion worth of investments into the U.S.
The president made stops in Malaysia, Japan and South Korea during the Asia tour.
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Trump issued a lengthy Truth Social post in which he described his meeting with China’s president as “truly great.”
“I was extremely honored by the fact that President Xi authorized China to begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products. Our Farmers will be very happy!” the president said in the post.
“Additionally, China has agreed to continue the flow of Rare Earth, Critical Minerals, Magnets, etc., openly and freely. Very significantly, China has strongly stated that they will work diligently with us to stop the flow of Fentanyl into our Country,” he noted.
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“China also agreed that they will begin the process of purchasing American Energy. In fact, a very large scale transaction may take place concerning the purchase of Oil and Gas from the Great State of Alaska. Chris Wright, Doug Burgum, and our respective Energy teams will be meeting to see if such an Energy Deal can be worked out,” Trump stated in the post.
“I want to thank the Great Countries of Malaysia, Japan, and South Korea for being so generous, gracious, and hospitable — Also, Australia, Canada, New Zealand, Singapore, Thailand, and Vietnam, who were at the Dinner last night hosted by His Excellency Lee Jae Myung. Hundreds of Billions of Dollars are being brought into our Country because of them,” the president noted.
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