U.S. Treasury Secretary Scott Bessent discusses President Donald Trump’s visit to Asia, the finalized U.S.-China deal, the government shutdown, and finalists for the next Federal Reserve chairman.
On the heels of U.S. President Donald Trump’s meeting with Chinese President Xi Jinping, Treasury Secretary Scott Bessent told FOX Business’ Maria Bartiromo that China has agreed to buy millions of tons of U.S. soybeans in the coming years.
During an appearance on “Mornings with Maria,” Bessent said China had agreed to buy 12 million tons of that crop “during this season,” which he said is “between now and… should be January.”
He then added that China should purchase at least 25 million tonnes of soybeans every year for the next three years.
Scott Bessent, U.S. Secretary of the Treasury, speaks to the media outside the White House in Washington, DC, Wednesday, October 22, 2025. (Aaron Schwartz/CNP/Bloomberg via Getty Images / Getty Images)
Bessent said he believes Trump’s Asia trip could ultimately bring $2 trillion in investment to the United States.
The president made stops in Malaysia, Japan and South Korea during his Asia tour.
President Donald Trump and Chinese President Xi Jinping talk as they leave after a bilateral meeting at Gimhae International Airport on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Busan, South Korea, October 30, 2025. (Reuters/Evelyn Hockstein/Reuters Photos)
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President Donald Trump published a lengthy article on Truth Social in which he called his meeting with the Chinese president “truly wonderful.”
“I was extremely honored that President Xi authorized China to begin purchasing massive quantities of soybeans, sorghum and other agricultural products. Our farmers will be very happy!” the president said in the message.
“Furthermore, China has agreed to continue the flow of rare earths, critical minerals, magnets, etc., openly and freely. Very significantly, China has firmly stated that it will work diligently with us to stop the flow of fentanyl into our country,” he noted.
“China has also agreed that it will begin the process of purchasing American Energy. In fact, a very large-scale transaction may take place involving the purchase of oil and gas from the great state of Alaska. Chris Wright, Doug Burgum and our respective energy teams will meet to see if such an energy deal can be reached,” Trump said in his message.
This is breaking news and will be updated.
