Treasury Secretary Scott Bessent struggled to spin the fallout from the Trump administration’s misguided trade war, blaming former President Joe Biden for China’s response to President Donald Trump’s tariffs.
In May, China stopped purchasing American soybeans, in response to Trump’s increased tariffs on the country. China is the world’s single largest importer of soybeans, and this has obviously harmed U.S. farmers of the crop.
“At the meeting in Geneva, when I asked [Chinese diplomats], ‘Why didn’t you continue buying soybeans and the other products?’ they had one word,” Bessent said. “Guess what it was? Biden.”
Even conservative CNBC host Joe Kernen was having a hard time buying Bessent’s spin.
“Biden?” Kernen said, incredulously. “Oh, that sounds like malarkey. Come on, man.”
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