China has agreed to buy 25 million metric tons of American soybeans annually for the next three years—including 12 million tons during the current harvest season through January—Treasury Secretary Scott Bessent said, describing the purchase as part of a broader trade framework reached during President Donald Trump’s Asia trip this week.
In an interview on Fox Business Network’s “Mornings with Maria” on Oct. 30, Bessent said the new commitment follows months of negotiations and reflects a broader thaw in U.S.–China economic relations, adding that the deal was finalized overnight and will be signed possibly next week.
“One of the big parts of this agreement … is the massive amount of agriculture purchases that the Chinese are going to be doing,” Bessent said. “The Chinese have agreed to buy 12 million metric tons of soybeans during this season … and then for the next three years, they’re going to be buying a minimum of 25 metric tons per annum.”…