China used to buy over 50% of soybeans raised by U.S. farmers during the past five years. But now, China isn’t buying any due to President Donald Trump’s escalating trade war and tariffs.

When asked about it on CNBC’s Squawk Box, out gay Treasury Secretary Scott Bessent claimed that during a May 2025 meeting in Geneva, Switzerland, a Chinese government official told him that former President Joe Biden is to blame.

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Online commenters aren’t buying Bessent’s story.

“At the meeting in Geneva when I asked them, ‘Why didn’t you continue buying soybeans and the other products?’ They had one word. Guess what it was? Biden,” Bessent said during his Thursday appearance on Squawk Box, before smirking.

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Even the show’s host, Joe Kernen, responded, “That sounds like malarky. C’mon, man.”

Put another way, Bessent is claiming that China bought U.S. soybeans when Joe Biden was president, up through 2024, but then stopped in 2025 when Trump became president, and this is somehow Biden’s fault.

In reality, Trump imposed tariffs on Chinese imports, and China responded with retaliatory tariffs on U.S. exports. The U.S. imposed a 145% tariff on all Chinese goods, and China imposed a 125% tariff on American goods in response. The tariffs have been frozen until November, pending upcoming trade talks between the two nations, Reuters reported.

The situation has become so dire that the U.S. is considering spending $10 billion to bail out U.S. soybean farmers who will be ruined if China refuses to buy their crops.

In response to Bessent’s claim, one commenter on the social media platform X posted a chart showing that U.S. soybean sales to China reached a high near the November 2024 U.S. presidential elections and then decreased to nothing following Trump‘s re-election.

Checks out https://t.co/wAz0Tf1dr6 pic.twitter.com/VO9wW7WNQK

— Andrew (@andyl2632) October 3, 2025

Others expressed disbelief and disappointment over Bessent’s claim.

Smirk on his face, he thinks yall are stupid https://t.co/cAdgz0aJ0w

— toto (@t0tesss) October 3, 2025

I’m old enough to remember when all the Wall Street types and finance bros thought this gay lying jackass was an outstanding choice for Treasury Secretary.

What an embarrassment he is. https://t.co/yECsCGXmAM

— jethro.

Source: LGBTQ Nation