• Former President Trump is pressuring Treasury Secretary Scott Bessent to ensure China accelerates its pledged soybean purchases under a new trade accord.
  • The agreement commits China to buying 12 million tons of U.S. soybeans by year-end and 25 million tons annually for the next three years.
  • U.S. soybean farmers, who suffered heavy losses during the trade war, are watching closely as China's current pace lags behind the commitment.

Former President Trump has called on Treasury Secretary Scott Bessent to directly press Chinese officials to speed up their pledged purchases of U.S. soybeans, according to people familiar with the matter. The push comes as the year-end deadline for the initial 12-million-ton commitment under a major new trade accord draws nearer.

The agreement, which is still being finalized, would see China purchase 12 million tons of U.S. soybeans by the end of this year and 25 million tons annually for the following three years. These volumes would restore U.S. exports to levels on par with pre-trade-war peaks, offering a crucial lifeline to American farmers who faced severe losses when Chinese tariffs slammed the agricultural sector.

Initial market uncertainty had negatively affected soybean futures, but prices rebounded after Bessent specified the purchase commitments in recent weeks. Despite this, China's current buying pace remains behind the schedule needed to meet the 2025 pledge, prompting the urgent diplomatic engagement. A spokesperson for the Treasury Department did not immediately respond to a request for comment.

China’s purchases are being driven more by political commitment than market pricing, as U.S. soybeans remain at a price disadvantage compared to Brazilian supplies. The deal originated from a broader U.S.-China trade accord discussed during a Trump-Xi meeting in South Korea, where agricultural trade was a central focus.

For U.S. soybean producers, including large agribusinesses and farm cooperatives like CHS Inc., the agreement represents a potential turning point. The U.S. soybean trade with China was valued at over $12 billion last year, but volumes had slumped sharply from pre-trade-war highs of over 30 million tons. The persistent lack of trust between the nations has necessitated continued monitoring and diplomatic pushes to ensure compliance, with U.S. officials actively involved in verifying shipments.

Correction: An earlier version of this article misstated the annual purchase commitment for the following three years; it is 25 million tons, not 25 billion tons.