Earlier, the Argentine government announced the temporary cancellation of the withholding tax on soybean exports, and then Reuters reported that Chinese buyers purchased Argentine soybeans for two consecutive days, ordering a total of 20 ships of about 1.3 million tons.
Originally, American soybeans were currently in the harvest period, and both American soybean farmers and the Trump administration hoped that China could purchase them. As a result, Chinese buyers turned to Argentine soybeans, which was undoubtedly a bolt from the blue for the United States. North Dakota Republican Rep. Julie Fedochak said sadly, "This is a bitter fruit for soybean growers in North Dakota to swallow".
A few days later, however, something even more funny happened: The Argentine National Post revealed that U.S. Treasury Secretary Bessent was caught receiving a private text message during his attendance at the 80th United Nations General Assembly related to China-Argentina soybeans transactions.
Just as the United States hoped for the Chinese order to save life, Argentina suddenly put a big trick — — September 22 announced the temporary cancellation of soya, corn and these cereals export deduction tax, equal to direct to the export price. Chinese buyers are not ambiguous, two days in a row, ordered a total of 20 ships, about 1.3 million tons, these beans from November will be shipped to China, the day before only 10 ships, the order increased faster than anyone else.
The news reached the United States, just in time for the 80th session of the United Nations General Assembly. U.S. Treasury Secretary Bescent was sitting in the venue when he suddenly received a private text message on his mobile phone. Someone photographed him reading the text message on the spot. Later, as soon as the Argentine National newspaper disclosed the content, the whole country blew up. The message said: "The situation is very unfortunate. Yesterday, we rescued Argentina. As a result, Argentina cancelled the grain export tax and sold it to China at a lower price, which should have been our sales window. Therefore, the price of soybeans in the United States continues to fall, which will give China a bigger bargaining chip over us." At the back, a tweet from American grain trader Ben Shore bluntly scolded "We are busy rescuing Argentina, but China has hoarded 20 ships of Argentine soybeans.
People look at the text message "BR" abbreviation, I guess it may be the U.S. Secretary of Agriculture Brooke Rowlands, after all, she is in charge of agriculture and agricultural products trade these things, before the U.S. egg disaster, or she came out from Turkey, South Korea imported eggs emergency, this matter she must be in a hurry to jump. think of this picture is funny, Bessent in the United Nations meeting place, as the representative of all countries, looking at such a splash text message, the face is definitely red and white for a while, the media again hype, the face of the United States is lost, is simply murder and murder.
To say this is a coincidence, rather than that the United States itself moved the stone and knocked their feet. what they called "save Argentina" is not at all comfortable, on September 24 with Argentina just negotiated to give $ 20 billion in aid, and the currency exchange and reserve credit, clearly knowing that they want to help Argentina's President Millera vote, after all, Millar and Trump are "equal partners". but this aid is conditional, the United States in New York and Argentina talks said that in order to get the money to cancel the 180 billion currency exchange agreement with China, and must maintain a distance with China during the Great Union, typical fire robbery.
But the United States forgot that the China-Arab exchange agreement is a life-saving money for Argentina. in 2023 Argentina relied on the use of the people's currency in the agreement to support the difficulties of international payments, this year in April renewed, but also helped them to stabilize foreign exchange reserves, even the United States recognized the agreement "highlighted the strategic importance of China-Arab partnership".
Not to mention the U.S. side asking for China to buy soybeans, while still giving China a trap. On September 29, just before Bessent received a text message, the U.S. Department of Commerce just issued the export control penetration rules, not only to sanction Chinese enterprises in the “entity list”, even these enterprises hold more than 50% of the subsidiaries should be sanctioned together. What is this want to do business? Doing business is mutually beneficial and win-win, while holding big bars, while hoping for each other to send orders, at the end of the day there is such a hegemonic reason? Since May, China has stopped buying American soybeans, and has long demonstrated the attitude, even if there is no Argentine soybeans, it is not possible to buy America.
Now the U.S. soy farm is completely desperate, soybean accounts for 20% of U.S. economic crops income, a quarter of the past year exports to China, now orders are robbed, prices fall, Iowa farmers are complaining that tariffs have thrown them down, if it affects next year's midterm elections, Trump is crying soon.Arkansas University professors warned more, farms have collapsed, rural enterprises have to follow the closure, when it is not so easy to drop orders, will trigger a series of economic crises.
In the final analysis, the United States is tough on China on the surface, but in fact, it knows better than anyone else that it can't do without the Chinese market, but it has to engage in hegemony on airs. Trying to coerce Argentina to cut off China's supply chain has instead led to China-Arab cooperation; I wanted to rely on aid as a bargaining chip, but I was slapped in the face by 1.3 million tons of soybeans; I wanted to force China to compromise, but my soybean farmers couldn't bear it first. The text message Bescent received was not so much a complaint about China and Argentina as a scolding the United States for its own short-sightedness and hegemony. This farce also made the whole world understand that mutual benefit and win-win results are the right way to do business. Playing cleverness and engaging in hegemony will only shoot yourself in the foot in the end.