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Scott Bessent: “They actually completed their soybean purchases last week…”

Featuring: Scott Bessent, Republican | Secretary of the Treasury | National

Scott Bessent: 'We're reordering the global economy' | The Conversation

Published January 22, 2026 | Video Starts at 28:00

Again, we are going to hold their feet to the fire but they have done everything that they said they were going to do. They actually completed their soybean purchases last week, their full allocation. just like President Trump. I urge them to do more but it's not required. Just would be a goodwill gesture and you never know. (28:00–28:07)

CLAIM

Asserts that China completed its full allocation of soybean purchases.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Scott Bessent

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“We put 25% tariffs on India for buying Russian oil and the Indian purchases by their refineries of Russian oil have collapsed.”
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“Everyone knows in May, June, we were days away with these rare earth magnets from substantial shutdowns in our auto assembly lines.”
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“97% of the advanced semiconductors in the world are made in Taiwan.”
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“China issued a statement saying that for every good sold in the world that had 0.01% Chinese rare earths in it, they wanted an export…”
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“The Canadian economy is smaller than the economy of Texas.”
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“Four to six Fed governors and regional bank presidents have to leave for ethics violations out of 19.”
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“We're reordering the global economy, especially since the China shock in the early 2000s, that free trade was not fair trade.”
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“We're seeing trillions of dollars of investment flow back into the US.”
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“We are seeing substantial tariff income and we are seeing the announcement of factories coming back, manufacturing coming back.”
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“For the third quarter GDP, trade actually was a positive contribution to GDP.”
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“The tariff levels that we've assigned to our trading partners, whether it's 15% with the EU, 15% with Japan, 19% for Vietnam.”
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“We brought down the tariffs on the other side of the ledger. So these countries that had been charging US tariffs, that's those have been…”
Scott Bessent: 'We're reordering the global economy' | The Conversation | Uploaded January 22, 2026 | 04:35-04:46
“They [China] also have a substantial youth unemployment problem.”
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“They [China] are in the midst of a full blown real estate crisis.”
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“They [China] have seen very substantial decrease in corporations, corporate margins.”
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“We've seen the lack of energy security from this manic push for net zero.”
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“We expect you to pay for part of the NATO defense.”
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“There are five to seven critical industries that got cut off during COVID that are essential to reshore in the US.”
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“We're moving at warp speed on [the critical minerals process] to get out from under the Chinese pressure.”
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“He views Greenland as essential to the US Gold golden dome missile shield.”
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“The tariffs are in place.”
Scott Bessent: 'We're reordering the global economy' | The Conversation | Uploaded January 22, 2026 | 12:11-12:14
“The 25% Russian oil tariffs are still on.”
Scott Bessent: 'We're reordering the global economy' | The Conversation | Uploaded January 22, 2026 | 13:21-13:24
“Before the Ukraine invasion, approximately 2 or 3% of Indian oil that went into their refineries came from Russia.”
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“Europeans were buying refined products from Indian refineries made from Russian oil.”
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“We are in a national emergency right now [due to rare earth materials].”
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“President Trump is using the IA tariffs and the negotiations, especially with the government of Taiwan to reshore the semiconductor…”
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“President Trump threatened 100% tariffs and the Chinese came to the table.”
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“Canada had a retroactive digital service tax on our US Internet providers.”
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“Canada should drop those digital services taxes.”
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“We have achieved a very good equilibrium [with China].”
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“President Trump will be visiting Beijing in April.”
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“Party Chair Xi will be coming either to D.C. or Mar a Lago, probably over the summer.”
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“We have a trade agreement with [China].”
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“The Chinese have implemented and have kept up their side [of the trade agreement].”
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“We are going to see a fantastic economic year in 2026.”
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“Working Americans have very substantial refunds coming. 100, 150 billion that we're going to see in the first quarter.”
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“We've seen real wages increase every month since President Trump has come in.”
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“Observable inflation is actually below the Fed target now.”
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“The Biden administration torched, torched working Americans. We had the greatest inflation in 49 years.”
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“In 2026, we are happy to own this. We're going to see real wage increases.”
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“We are going to see inflation back below the Fed targets.”
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“We are not trying to decouple from China. We're trying to de-risk [our supply chains].”
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“Housing is not a free market because there's a tax arbitrage.”
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“This administration has created 2.5 trillion in new lending capacity that can go to American business, to Americans.”
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“The Fed is a sprawling institution that has gotten out of control.”
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“The American people have to believe in the Fed or you see the worst inflation in 49 years.”
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“The Fed chair is one vote and steers the committee.”
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“The President values the independence of the Fed.”
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“These Fed moves have been one of the things that have pushed this inequality in the US.”
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“We do everything from the Mint to monitoring the international relations.”
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“We're implementing the one big beautiful tax bill because most of the implementation or the guidance is done at a Treasury.”
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“The Fed has to be like Caesar's wife, beyond reproach.”
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“Since last spring I have been calling for the Fed to do internal reviews on all these things.”
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“We are not being taken advantage of. The jobs are not being shipped overseas.”
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“We are going to bring back high precision manufacturing jobs.”
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“We are going to grow our way out of this debt problem.”
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“We have put sanctions on Iranian oil. We cut down their access to the dollar market.”
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“The Iranian leadership is wiring money out of the country like crazy.”
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“The Russians hate the [Ukraine] trade deal. Ukrainians love it. And it will be the centerpiece of the economic recovery in Ukraine.”
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