Treasury Secretary Scott Bessent leaked a sensitive text message related to national security during last week’s United Nations General Assembly.
In the text, sent last Tuesday by Agriculture Secretary Brooke Rollins, she warned Bessent that Argentina was selling soybeans to China despite a US trade deal requiring Buenos Aires to cut ties with Beijing.
The soybean trade is critical to midwestern farmers, a key voting bloc in Donald Trump’s base as the MAGA movement looks ahead to the 2026 midterm elections.
Beijing, which traditionally snapped up at least a quarter of all soybeans grown in the US, is in effect boycotting them in retaliation for Trump’s tariffs.
The text says: ‘Finally – just a heads up. I’m getting more intel, but this is highly unfortunate. We bailed out Argentina yesterday (Bessent) and in return, the Argentine’s removed their export tariffs on grains, reducing their price, and sold a bunch of soybeans to China, at a time when we would normally be selling to China.
‘Soy prices dropping further because of it. This gives China more leverage on us’.
Rollins then posted the X account of Ben Scholl, a grain trader in Iowa, whose post she was sharing with Bessent.
The Agriculture Secretary followed up the quoted message, telling Bessent: ‘On a plane but scott I can call you when I land.’
U.S. Treasury Secretary Scott Bessent checks a text message regarding Argentina relations with the U.S. during the 80th session of the United Nations General Assembly at United Nations headquarters, Tuesday, Sept. 23
The text appears to be from Brooke Rollins and is in a group chat with one other person as well as Bessent. The message says: ‘Finally – just a heads up. I’m getting more intel, but this is highly unfortunate. We bailed out Argentina yesterday (Bessent) and in return, the Argentine’s removed their export tariffs on grains, reducing their price, and sold a bunch of soybeans to China, at a time when we would normally be selling to China. Soy prices dropping further because of it. This gives China more leverage on us … Ben Scholl (@rottoscholl) on X … On a plane but scott I can call you when I land’
Interior Secretary Doug Burgum, Agriculture Secretary Brooke Rollins, Homeland Security Secretary Kristi Noem and White House chief of staff Susie Wiles listen as President Donald Trump speaks at a rally at the Iowa State Fairgrounds, Thursday, July 3, 2025
The image of Bessent’s text from Rollins has been all over Argentinian media in recent days. It was taken by an Associated Press photographer.
It comes after Trump met last week with Argentina’s president Javier Milei to offer him a $20billion financial lifeline amid a weakening currency and dwindling cash reserves.
However, the US spending package was contingent on Buenos Aires axing a currency swap line with China worth $18 billion.
Washington believes the agreement between China and Argentina’s central banks — allowing the states to loan money to each other — represents a strategic risk as it increases reliance on the yuan instead of the US dollar.
But just days before Milei’s meeting with Trump, Argentina temporarily suspended its export taxes on soybeans triggering a flood of orders from China.
As a result, prices for the crop plunged and put further pressure on midwestern farmers.
Since the 1990s, American farmers have relied on China’s demand for protein-rich soybeans for oil and animal feed, making it their biggest market.
While China relies on domestic crops for steamed beans and tofu, it needs far more soybeans for oil extraction and animal feed.
US Treasury Secretary Scott Bessent appears in the Oval Office of the White House on September 25
In 2024, China produced 20 million metric tons of soybeans, while importing more than 105 million metric tons.
American farmers have come to count on China as their biggest customer, and this has given the Chinese leverage.
China turned to Brazil when Trump launched his first trade war in 2018. Last year, Brazilian beans accounted for more than 70 percent of China’s imports, while the US share was down to 21 percent, World Bank data shows.
Argentina and other South American countries are also selling more to China, which has diversified to boost food security.
Not only does this hurt American farmers, but it presents an increasing geopolitical risk as it increases China’s influence over US neighbors in South America.
