President Donald Trump’s tough stance on China is once again dominating headlines — but this time, the impact is hitting closer to home inside his own administration.
Treasury Secretary Scott Bessent admitted on Sunday that the ongoing trade war with China has personally affected him — not as a bureaucrat, but as a soybean farmer.
“In case you don’t know it, I’m actually a soybean farmer. So, I have felt this pain too,” Bessent said on ABC’s This Week.
A former hedge fund manager worth an estimated $600 million, Bessent disclosed that he owns millions of dollars in farmland in North Dakota. His property, valued between $5 million and $25 million, produces corn and soybeans and brings in up to $1 million a year in rental income.
Bessent’s comments followed high-level trade talks in Malaysia, where he joined Trade Representative Jamieson Greer and Secretary of State Marco Rubio in meeting with Chinese Vice Premier He Lifeng and senior negotiator Li Chenggang.
U.S. Farmers Feeling the Heat
For decades, China has been America’s top buyer of soybeans, purchasing more than $12 billion worth from U.S. farmers last year. But since tariffs went into effect, that number has plunged to zero, devastating soybean producers across the Midwest — many of whom have long supported Trump’s “America First” trade agenda.
Adding insult to injury, China recently bought over 1 million tons of soybeans from Argentina, just days after Washington approved a $20 billion bailout for Buenos Aires.
Despite the frustration in farm country, Bessent insists there’s reason for optimism.
“Our soybean farmers will feel very good about what’s going on — both for this season and for the coming seasons,” he said, hinting that a major deal could soon be announced.
Trump’s Next Move Could Be a Game-Changer
President Trump is expected to meet directly with Chinese President Xi Jinping in South Korea on Thursday, a high-stakes encounter that could redefine the future of U.S.–China trade relations.
If successful, the agreement could reopen Chinese markets to American farmers, restore billions in lost exports, and give Trump another major economic victory heading into 2026.
Meanwhile, critics say Beijing is testing Trump’s resolve, betting that pressure from struggling farmers will push Washington to soften its stance. But supporters argue that Trump’s bold approach is finally forcing China to play fair after decades of one-sided trade deals that hurt American workers and producers.
Bottom Line
The trade war may be painful in the short term, but for Trump and his team — even those personally affected like Secretary Bessent — the message is clear: short-term sacrifice for long-term American strength.
With new talks underway and a face-to-face meeting between Trump and Xi on the horizon, many are watching closely to see whether this showdown delivers what farmers — and America — have been waiting for: a fair deal that puts the United States first again.