On Wednesday’s broadcast of the Fox News Channel’s “Special Report,” Treasury Secretary Scott Bessent said that we extended the “economic détente” between the U.S. and China and China has “been very fulsome” on its agreements on soybean purchases, but “They have about 17 billion of other ag. commitments that we think they’re a little behind schedule on, and we are encouraging them to pick those up.”
Bessent said, “We have agreed, today, that we will extend what we call the Busan Agreement, the détente — economic détente between the two countries that was scheduled to end on November 10. That is going to be extended until January 10 to give us more time to see what we can do on the economic front.”
Bessent added that he’s unsure if there will be a larger deal and China has lagged on some deliverables and we want to see if they improve there.
Later, host Bret Baier asked, “And for the ag. purchases, which, we’ve heard those before, farmers have heard them, could they maybe come from the political aspect before November?”
Bessent responded, “Well, what we want to ensure is that they are meeting their obligations. The Chinese have been very good, thusfar, about meeting their obligations this year. They have agreed to buy 25 million…tons of soybeans, and they have been very fulsome in those. They have about 17 billion of other ag. commitments that we think they’re a little behind schedule on, and we are encouraging them to pick those up.”
Follow Ian Hanchett on Twitter @IanHanchett
Read the full article here