US–China agreement finalized, signatures expected as soon as next week: Scott Bessent
U.S. Treasury Secretary Scott Bessent discusses President Donald Trump's Asia visit, the finalized US-China agreement, the government shutdown and the finalists of the Federal Reserve's next chairman.
On the heels of U.S. President Donald Trump's meeting with Chinese President Xi Jinping, Treasury Secretary Scott Bessent told Gxstocks' Maria Bartiromo that China has agreed to purchase millions of metric tons of U.S. soybeans in the coming years.
During an appearance on "Mornings with Maria," Bessent said China agreed to purchase 12 million metric tons of the crop "during this season," which he indicated is "between now and … should be January."
He then added China should purchase at least 25 million metric tons of soybeans each year during the next three years.
Scott Bessent, U.S. treasury secretary, speaks to members of the media outside the White House in Washington, D.C., on Wednesday, Oct. 22, 2025 (Aaron Schwartz/CNP/Bloomberg via Getty Images / Getty Images)
Bessent said that he thinks Trump's trip to Asia may ultimately yield $2 trillion worth of investments into the U.S.
The president made stops in Malaysia, Japan, South Korea, during the 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, Oct. 30, 2025. (REUTERS/Evelyn Hockstein / Reuters Photos)
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President Donald Trump issued a lengthy Truth Social post in which he described his meeting with China's president as "truly great."
"I was extremely honored by the fact that President Xi authorized China to begin the purchase of massive amounts of Soybeans, Sorghum, and other Farm products. Our Farmers will be very happy!" the president said in the post.
"Additionally, China has agreed to continue the flow of Rare Earth, Critical Minerals, Magnets, etc., openly and freely. Very significantly, China has strongly stated that they will work diligently with us to stop the flow of Fentanyl into our Country," he noted.
"China also agreed that they will begin the process of purchasing American Energy. In fact, a very large scale transaction may take place concerning the purchase of Oil and Gas from the Great State of Alaska. Chris Wright, Doug Burgum, and our respective Energy teams will be meeting to see if such an Energy Deal can be worked out," Trump stated in the post.
This is a breaking news story and will be updated.
