【By Guan察者网, Liu Bai】On January 20 local time, U.S. Treasury Secretary Bessenet told Fox Business Network in Davos that China has fulfilled its commitment to purchase U.S. soybeans and supply rare earths, and the Chinese supply of rare earths is proceeding as expected, which is "quite satisfactory."

As for Japan's recent trade restrictions on rare earth exports from China, Bessenet took a "spectator" attitude: some statements by the Japanese Prime Minister have triggered Sino-Japanese tensions, but the U.S. has not been affected.

In the interview, Bessenet praised President Trump's tariff policies, saying these tariffs forced countries such as China to sit at the negotiation table, and also delayed China's rare earth export restrictions by a year.

"This is an example of American global leadership," Bessenet said, "He (Trump) was able to use the International Emergency Economic Powers Act (IEEPA) tariffs to negotiate for the entire industrial world. I think this is very important."

Seeing Bessenet in high spirits, the Fox host then brought up the topic of Sino-U.S. trade - "Now that we have this opportunity, I would like to ask: What is the latest timetable for the highly anticipated Sino-U.S. bilateral trade agreement?"

Bessenet interviewed by Fox Business Network

Bessenet said he had just held talks with Chinese counterparts last night.

"He told me that this week, China has completed its annual soybean procurement task, and we expect the procurement volume for the new year to reach 25 million tons."

"I also suggested that they might buy a bit more, because President Trump always mentions this when communicating with the Chinese side."

"China has fulfilled all its commitments."

The host then mentioned the issue of rare earth supplies.

"They are flowing as expected," Bessenet responded, "The fulfillment rate has exceeded 90%, and I think this result is quite satisfactory."

The host asked, "So there is no stoppage of circulation, even for defense enterprises. Because I remember they tried to do this to Japan."

Bessenet said that some remarks by the Japanese Prime Minister have caused friction between China and Japan, but the United States has not been affected by this matter.

China has repeatedly emphasized that rare earth-related items have dual-use properties, and their export control is an international practice, which is completely proper, reasonable, and legal.

According to Xinhua News Agency, on January 20, member of the Political Bureau of the CPC Central Committee and Vice Premier He Lifeng attended the World Economic Forum 2026 Annual Meeting in Davos, Switzerland, and delivered a speech. During the forum, He Lifeng also met separately with U.S. Treasury Secretary Bessenet and British Chancellor of the Exchequer Rifs upon invitation, holding talks as the co-chairs of the Sino-U.S. economic and trade consultation mechanism and the Sino-British economic and financial dialogue mechanism, exchanging views on relevant issues in the fields of Sino-U.S. and Sino-British trade and economy.

With the easing of Sino-U.S. trade relations, the U.S. stated in late October last year that China has agreed to purchase 12 million tons of U.S. soybeans before January 2026, and to purchase at least 25 million tons of U.S. soybeans annually over the next three years.

Previously, China stated that it is an important participant in global agricultural product trade and will continue to uphold an open and cooperative attitude, deepening mutually beneficial cooperation with global trading partners and jointly maintaining an open, stable, and sustainable global trade system.

Although Bessenet claimed "everything is going well," Hong Kong English media South China Morning Post described that, beyond the camera and political spotlight, American farmers are not so optimistic. They complained that some agricultural products have rarely been shipped, and China's purchases of grains from Brazil and Argentina have surged, and most of their 2025 harvests have already been lost.

Bloomberg reported at the end of December that China is fulfilling its commitments, having purchased at least 8 million tons of U.S. soybeans in 2025, but Chinese commercial buyers remain cautious when purchasing U.S. soybeans.

Data shows that in 2025, nearly 80% of Brazil's soybean exports went to China, and the export volume through November increased by 16% compared to the previous year. Even in December, a seasonally weak month, trade continued. The upcoming Brazilian soybean harvest is expected to set a record.

Analysts point out that the votes of the U.S. farming community are a key factor that Trump is striving to win. He must avoid the situation where the U.S. Congress falls into the hands of the opposition Democratic Party. If the Democrats take control of Congress, they can block legislative processes, conduct investigations on his government, and interfere with Trump's administration in other ways.

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Original: toutiao.com/article/7597660697010471464/

Statement: This article represents the personal views of the author.