U.S. Treasury Secretary Discusses Soybean Deals and Rare Earths at Davos

U.S. Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng in Davos to discuss soybean purchases. China has completed their purchases and plans for 25 million tons next year were highlighted. Bessent also confirmed that rare earths from China are flowing as anticipated.

In Davos, U.S. Treasury Secretary Scott Bessent engaged in discussions with his Chinese counterpart, Vice Premier He Lifeng, focusing on agricultural trade and strategic resources.

Bessent announced that China had completed its soybean purchases, and both nations are anticipating 25 million tons of soybeans for the following year. This development was revealed at Bessent's World Economic Forum appearance.

The meeting also confirmed that China's rare earth supply to the U.S. is proceeding as expected, offering reassurance amid global supply chain concerns.