Trump: US Farmers Should Buy Bigger Tractors Immediately

China has agreed to purchase at least 25 million metric tons of US soybeans annually, Treasury Secretary Scott Bessent said Thursday. Bessent said China will start by purchasing 12 million metric tons of soybeans from the US between now and January, the AP reports. "So you know, our great soybean farmers, who the Chinese used as political pawns, that's off the table, and they should prosper in the years to come," Bessent said in an interview on Fox Business Network's Mornings with Maria. He said the agreement lasts for three years.

The soybean agreement was part of the deal President Trump reached with Xi Jinping at their South Korea meeting, reports the Wall Street Journal. "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," Trump said in a Truth Social post. "Our Farmers will be very happy! In fact, as I said once before during my first Administration, Farmers should immediately go out and buy more land and larger tractors." Last month, for the first time in almost seven years, China bought no soybeans from the US. The country switched to suppliers in Brazil and Argentina, the latter of which annoyed administration officials by removing its export tariffs after receiving a financial lifeline from the US.