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FriedButter

FriedButter

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Scott Bessent says he’s ‘felt this pain’ from China because ‘I’m actually a soybean farmer’​

Treasury Secretary Scott Bessett said Sunday he, too, has “felt pain” from China refusing to buy U.S.-grown soybeans during a trade conflict with President Donald Trump because “I’m actually a soybean farmer.”

Bessent’s comment came during an interview with ABC News’ “This Week,” where he said that trade negotiations with China in the past two days had led to a “substantial framework” that he believed would alleviate American soybean farmers’ concerns about the boycott.

Trump is set to meet later this week with Chinese President Xi Jinping in South Korea.

Bessent, a former hedge fund executive whose net worth is estimated by Forbes to be around $600 million, was asked about the soybean boycotts on “This Week” host Martha Raddatz, who noted that “American farmers have really suffered.”

China in 2023 and 2024 bought more than half of the soybeans grown in the U.S., accounting for nearly $12.8 billion in 2024.

But after Trump ignited a trade war with Beijing earlier this year, China stopped buying soybeans.

“Do you see a real light at the end of the tunnel there, they may allow soybeans again?” Raddetz asked.

Bessent replied, “Martha, in case you don’t know it, I’m actually a soybean farmer, so I have felt this pain, too.”

Bessent’s government financial disclosure shows that he owns soybean and corn farmland in North Dakota that has an estimated worth of between $5 million and $25 million.

On that disclosure, Bessent said the farmland generates between $100,000 and $1 million in rental income for him annually.

The Treasury secretary told Raddatz on Sunday, “I think think we have addressed the farmer’s concerns, and I’m not going to get ahead of the president, but I believe when the announcement of the deal with China is made public, that our soybean farmers will feel very good about what’s going on both for this season and the coming seasons for several years.”
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Bessent’s government financial disclosure shows that he owns soybean and corn farmland in North Dakota that has an estimated worth of between $5 million and $25 million. On that disclosure, Bessent said the farmland generates between $100,000 and $1 million in rental income for him annually.
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Bessent an “soybean” farmer but he conveniently didn’t say that the farmland generates rental income. Heading to bankruptcy just like his real estate agent father who went bankrupted.
 
FairAndUnbiased

FairAndUnbiased

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FriedButter said:
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Bessent an “soybean” farmer but he conveniently didn’t say that the farmland generates rental income. Heading to bankruptcy just like his real estate agent father who went bankrupted.
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He's not a farmer. He is a landlord. Those who rent his farm, are tenant farmers.

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Man_of_the_Mine-_Life_at_the_Coal_Face%2C_Britain%2C_1942_D8258.jpg
 
siegecrossbow

siegecrossbow

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FriedButter said:
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Bessent an “soybean” farmer but he conveniently didn’t say that the farmland generates rental income. Heading to bankruptcy just like his real estate agent father who went bankrupted.
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He is literally private equity of soybean farmers so pretty much no American will be sympathetic to his plight.

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J

jiajia99

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siegecrossbow said:
He is literally private equity of soybean farmers so pretty much no American will be sympathetic to his plight.

View attachment 163384
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And he tries to win points and maybe some hugs because China decided to give him the respect he deserves. Seems his experience as a hedge fund manager really doesn’t prepare him much for the rigors of politics is an understatement
 
A

Africablack

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CMP said:
They're honestly the most despicable. In their twisted minds, it is only right and just that only they should hold the guillotine blade over the rest of the world's head. Megalomaniacs, the lot of them.
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They have a god complex which makes them very dangerous.

Only they have the supreme right to colonize and dominate others, they justify their behavior but start moaning when it's done to them.
 
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