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Investing.com -- U.S. President Donald Trump announced Wednesday that his administration plans to provide financial assistance to American soybean farmers who have been negatively impacted by China’s decision to halt purchases.
In a post on Truth Social, Trump claimed China has stopped buying U.S. soybeans for "negotiating reasons only" and pledged to use a "small portion" of tariff revenue to support affected farmers.
"We’ve made so much money on Tariffs, that we are going to take a small portion of that money, and help our Farmers," Trump wrote.
The president also criticized his predecessor Joe Biden for allegedly failing to enforce trade agreements with China that would have required substantial purchases of U.S. agricultural products, particularly soybeans.
Trump revealed he will meet with Chinese President Xi in four weeks, where soybeans will be "a major topic of discussion."
"I WILL NEVER LET OUR FARMERS DOWN!" Trump declared, adding, "I LOVE OUR PATRIOTS, AND EVERY FARMER IS EXACTLY THAT!"
The president concluded his message with a campaign-style slogan: "MAKE SOYBEANS, AND OTHER ROW CROPS, GREAT AGAIN!"
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