Media365
Treasury Secretary Scott Bessent accidentally leaked a sensitive national security text during last week’s United Nations General Assembly. A photograph taken by the AP’s Angelina Katsanis during last Tuesday’s United Nations General Assembly shows Bessent reading a message from someone with initials matching those of Agriculture Secretary Brooke Rollins, Daily Beast reported. The message flagged that Argentina had sold soybeans to China—despite a US trade deal requiring Buenos Aires to restrict agricultural exports to Beijing.“We bailed out Argentina yesterday (Bessent) and in return, the Argentine’s removed their export tariffs on grains, reducing their price, and sold a bunch of soybeans to China, at a time when we would normally be selling to China. Soy prices dropping further because of it. This gives China more leverage on us,” Rollins wrote. Along with Rollins’ message was a link to grain trader Ben Scholl’s criticism of Bessent for pledging that “we stand ready to do what is needed to support Argentine and the Argentine people.” “China is up to 20 cargoes of Argentine soybeans while we are busy bailing out Argentina,” Scholl wrote. “They think you are stupid.” Rollins’ office did not immediately respond to a request for comment, nor did the Treasury Department. Despite campaigning under the slogan “America First,” US President Donald Trump is set to provide Argentina, whose right-wing president has overseen a struggling economy, with a $20 billion lifeline. Shortly after this development last week, Argentina suspended its 26 per cent export tax to facilitate soybean sales—but to China. These actions, combined with Trump’s tariffs on Chinese imports, have led China to seek soybeans elsewhere, adversely affecting many U. farmers. The American Soybean Association (ASA) has called on Trump to negotiate a deal with China on soybeans because “the farm economy is suffering.” “The U.S. has made zero sales to China in this new crop marketing year due to 20% retaliatory tariffs imposed by China in response to U.S. tariffs,” ASA President Caleb Ragland stated last week. “This has allowed other exporters, Brazil and now Argentina, to capture our market at the direct expense of U.S. farmers. The frustration is overwhelming. US soybean prices are falling, harvest is underway, and farmers read headlines not about securing a trade agreement with China, but that the U.S. government is extending $20 billion in economic support to Argentina while that country drops its soybean export taxes to sell 20 shiploads of Argentine soybeans to China in just two days.” Iowa Senator Chuck Grassley, a Republican, echoed this sentiment without mentioning Trump by name. “Farmers VERY upset abt Argentina selling soybeans to China right after USA bail out … farmers need markets 2 boost farm economy,” he wrote on X last Thursday. “Why would USA help bail out Argentina while they take American soybean producers’ biggest market??? We shld use leverage at every turn to help hurting farm economy. Family farmers should be top of mind in negotiations by representatives of USA,” Grassley added in a follow-up.
