Name: U.S. farmers have a lot riding on Trump–Xi meeting
Uploaded: 2025-10-29T17:08:56.229Z
Duration: 2 min 35 s
Description: Treasury Secretary Scott Bessent met with his Chinese counterparts over the weekend and announced that a framework had been agreed to that could lead to a trade deal.

Treasury Secretary Scott Bessent met with his Chinese counterparts over the weekend and announced that a framework had been agreed to that could lead to a trade deal.

U.S. soybean farmers are facing economic challenges due to ongoing trade tensions between the United States and China. With China boycotting American soybeans, many crops remain unsold and in storage, leading to significant financial losses for producers, particularly in the Midwest.

Recent discussions between U.S. Treasury and Chinese officials have resulted in a framework that could pave the way for a trade deal, potentially including provisions for soybean relief. U.S. officials have expressed optimism that an agreement could help move American soybeans to international markets and improve the profitability of American farmers.

U.S. farmers have a lot riding on Trump–Xi meeting

And soybean farmers in the U.S. are keeping a close eye on what happens when President Trump meets with China's premier. That's because it could have major implications for people who make their living in agriculture. Our Joe St. George explains how. For over 10 months, the trade tensions between the U.S. and China have been felt across the global economy. The technology industry has been impacted by China's threat to restrict rare earth elements needed to make things like smartphones. Big box stores have been impacted by the price of Chinese-made products and tariffs. But you don't need to be a major CEO in a big city to feel the impacts. Farmers have as well and are desperate for a trade deal this week. The expectations are high for the first meeting between President Donald Trump and President Xi Jinping of China since 2019. These are just some of the issues that the two leaders are expected to discuss, ranging from tariffs to fentanyl to TikTok. I'm in the seat of the combine right now. I'm cutting soybeans. I'll turn it around so that you can see. For farmers like Chris Cherry and David Harden, they are anxiously awaiting this meeting in the hopes it brings about a deal involving soybeans. According to the American Farm Bureau Federation, in 2024, half of all soybeans exported from the United States went to China. This year, China has boycotted American soybeans because of the ongoing trade war. There are soybean crops that are just not being bought. They're sitting in storage. That's correct. Just about all of them have gone into bins, gone into storage, waiting and hoping for, you know, a resolution. These farmers from Indiana telling the Scripps News group that the economic impacts have been significant. We need to have a deal done for us to be back to be where we're profitable. Midwest soybean producers are going to be looking at somewhere around $100 per acre loss this year. There is a reason for farmers to be optimistic. Treasury Secretary Scott Besant met with his Chinese counterparts over the weekend and announced a framework has been agreed to that could lead to a possible trade deal. The secretary has implied it would include soybean relief. Secretary of Agriculture Brooke Rolland spoke with the Scripps News group Tuesday. Good news for our soybean farmers and we're grateful hopefully when that deal gets inked to be able to move some of those soybeans, those great American soybeans out across the world. Joe St. George, Scripps News Group, Washington.

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