China will return U.S. soybean buys to recent annual levels, Bessent says

China has pledged to buy 12 million metric tons of soybeans from U.S. farmers this season and at least 25 million metric tons a year in each of the next three years, Treasury Secretary Scott Bessent said Thursday.Why it matters: China stopped buying U.S. soybeans earlier this year amid President Trump's trade war, depriving American farmers of their largest export market.China bought $13 billion of soybeans from U.S. farmers last year.The levels described by Bessent for the next three years would be roughly on par with what China imported annually in the recent past.Editor's note: This is a breaking news story. Check back for updates.Go deeper: China's trade war gambit puts Trump on defense

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