Bessent: U.S. Outlook Brightens as China Stays on Track with Soybean Purchase Commitments
Treasury chief projects strong 2026 economy and confirms Beijing will complete 12 MMT soybean purchase pledge by late February
U.S. Treasury Secretary Scott Bessent voiced strong confidence in the trajectory of the American economy heading into 2026, saying key indicators point to “real momentum” despite tariff-related uncertainties and a cooling consumer environment. Speaking Wednesday, Bessent said the administration’s policy mix — anchored by higher baseline tariffs, large-scale industrial incentives, and a series of bilateral trade deals — has positioned the economy for “resilient” growth next year.
A major bright spot, he noted, is the stabilization of U.S./China agricultural trade. Bessent said China is on track to fulfill its commitment to purchase 12 million metric tons of U.S. soybeans, part of a broader trade agreement designed to reset commercial ties after years of volatility. He added that Beijing’s remaining purchases would be completed by the end of February 2026, marking the first time in several years that Chinese buying patterns aligned closely with U.S. expectations.
The Treasury chief framed the progress as evidence that Washington’s tariff strategy has created leverage without sacrificing market access for major farm commodities. The confirmation may reassure U.S. soybean growers who have been navigating months of price swings, shifting Gulf shipping flows, and concerns that China would delay cargoes amid broader geopolitical friction.
Bessent’s optimism also comes as agricultural markets watch for potential further commitments around the Busan pledges and whether China will shift more state-reserve buying from Brazil to the United States early next year. He said he expects the combination of trade flows and tariff-related reshoring to support overall economic performance in 2026, even as inflation risks tied to supply chain adjustments remain in view.
