FX.co ★ Trump Vows Farmer Support, Puts Soybeans on Xi Meeting Agenda

U.S. President Donald Trump announced on Wednesday that he intends to prioritize soybean farming in his upcoming discussions with Chinese President Xi Jinping in South Korea at the end of October. Trump highlighted on social media that American soybean farmers are suffering due to China's strategic decision to halt purchases for negotiation leverage. He assured farmers that revenue from tariffs will be utilized to support them, asserting, “I WILL NEVER LET OUR FARMERS DOWN!” As tensions with China persist, American farmers have seen their market share decline in favor of Brazilian and Argentinian competitors. Concurrently, the U.S. has extended a USD 20 billion swap line to Argentina and has been considering debt purchases to support President Javier Milei, an ally of Trump. Trump's commitment to using tariff revenues to aid farmers echoes the USD 32 billion relief package implemented during his first term. Analysts anticipate similar support through the Commodities Credit Corporation as farmers continue to face challenges linked to present economic policies.