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Leaked texts on Scott Bessent’s phone suggest the White House got played bailing out Argentina—and U.S. soybean farmers are the casualties

By Ilene
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U.S. treasury secretary looking at a text message warning Argentina has strengthened trade relations with China following extended talks to receive financial assistance from the U.S. Angelina Katsanis—AP Photo

Leaked texts on Scott Bessent’s phone suggest the White House got played bailing out Argentina—and U.S. soybean farmers are the casualties

By Sasha Rogelberg, Fortune
 

The White House’s plan to aid Argentina appears to have backfired.

According to a photo of a private text on the phone of Treasury Secretary Scott Bessent, Argentina responded to the treasury secretary’s $20 billion bailout by turning around and removing its export taxes on soybeans and striking a huge new deal with China. That diminished the price of U.S. soybeans and weakened U.S. trade leverage with China, which immediately pulled out of its existing arrangements with soybean farmers in America’s heartland.

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