UPDATE: In a heated live exchange on CBS, treasury secretary Scott Bessent faced swift fact-checking from host Margaret Brennan regarding his claims about running a soybean farm. Just moments ago, Bessent boasted about his agricultural ties, only to backtrack and admit he had recently divested his $25 million farming holdings due to ethics concerns.
During the interview, Bessent claimed, “I run a soybean farm,” but Brennan quickly clarified, “You own, or invest in a soybean farm.” This exchange highlighted the immediate tension surrounding Bessent’s role and his financial interests as a federal official.
Bessent’s holdings, worth up to $25 million, included thousands of acres of farmland in North Dakota. Reports suggest he may have earned around $1 million annually from rent on these investments. However, under pressure from the Senate Finance Committee, he confirmed he had to divest his assets, stating, “I actually just divested it this week as part of my ethics agreement, so I’m out of that business.”
The urgency of this matter escalates as Bessent argued that soybean prices surged by 12 to 15 percent since a recent trade agreement with China. He noted the deal would lead to China purchasing 12.5 million metric tonnes of soybeans, attempting to assure the public of stability in the agricultural sector.
Brennan pressed further, questioning Bessent about his discussions with China’s vice premier and the pace of purchases, emphasizing the critical need for clarity in trade negotiations that impact American farmers. Bessent’s responses, however, were clouded by his recent disclosures regarding his divestment and the potential conflicts of interest.
This live fact-checking underscores the growing scrutiny of government officials and their financial dealings, particularly in sectors directly affecting American agriculture. As this situation develops, all eyes will be on how Bessent navigates the fallout from this public exchange and the implications it holds for U.S. agricultural policy.
Stay tuned for more updates as this story unfolds.
