WASHINGTON (RFD-TV) — President Donald Trump took to Truth Social on Wednesday afternoon to discuss American soybean farmers and the administration’s ongoing trade negotiations with China.
“The Soybean Farmers of our Country are being hurt because China is, for “negotiating” reasons only, not buying. We’ve made so much money on Tariffs, that we are going to take a small portion of that money, and help our Farmers. I WILL NEVER LET OUR FARMERS DOWN! Sleepy Joe Biden didn’t enforce our Agreement with China, where they were going to purchase Billions of Dollars of our Farm Product, but Soybeans, in particular. It’s all going to work out very well. I LOVE OUR PATRIOTS, AND EVERY FARMER IS EXACTLY THAT! I’ll be meeting with President Xi, of China, in four weeks, and Soybeans will be a major topic of discussion. MAKE SOYBEANS, AND OTHER ROW CROPS, GREAT AGAIN!”
@realDonaldTrump on Truth Social
Trump’s comments arrive about a month before a planned meeting with Chinese President Xi Jinping, and recent headlines about China’s large purchase of soybeans from Argentina after the country dropped its export taxes.
Around the same time China’s soybean purchase was announced, Trump was meeting with world leaders at the United Nations, including the President of Argentina, whom he promised serious financial support to avert an economic crisis, despite their trade movements that undercut U.S. soybean farmers.
Last week, the President announced that tariff surpluses would be directed to U.S. farmers and ranchers, saying, " However, it remains unclear how the administration plans to accomplish this or how much support the ag industry will receive in terms of funding.
Democratic senators, led by Sens. Amy Klobuchar and Elizabeth Warren, penned a letter to the White House, asking the President to reconsider the $50 billion bailout of Argentina and focus on additional support for American farmers.
Watch Market Day Report and Rural Evening News for updates on this developing story.
The phone call injected optimism into the soybean market, but actual Chinese buying and its timing will ultimately determine the extent of U.S. agricultural export benefits.
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