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Treasury Secretary Bessent Divests Soybean Farm to Comply with Ethics Agreement

Treasury Secretary Bessent Divests Soybean Farm to Comply with Ethics Agreement

U.S. Treasury Secretary Scott Bessent has announced the divestiture of his interests in a soybean farm, fulfilling a requirement of his ethics agreement. This move comes after the U.S. Office of Government Ethics highlighted Bessent's non-compliance with certain terms of the agreement, which was designed to prevent conflicts of interest. Bessent, who has been involved in implementing President Trump's economic policies, including tariffs affecting agriculture, owned significant farmland in North Dakota. The divestiture is part of a broader effort by Bessent to divest various assets, including his hedge fund, to adhere to ethical standards set upon his appointment.

Treasury Secretary Bessent Completes Divestment of Soybean Farm to Meet Ethics Agreement

Treasury Secretary Bessent Completes Divestment of Soybean Farm to Meet Ethics Agreement

U.S. Treasury Secretary Scott Bessent has announced the divestment of his interests in a soybean farm, fulfilling a requirement of the ethics agreement he signed upon joining the administration. This divestment was part of a broader commitment to avoid conflicts of interest, which included selling off various assets. Bessent, who has been a significant figure in implementing President Trump's economic policies, including tariffs, had previously missed several deadlines set by the U.S. Office of Government Ethics. The farm, located in North Dakota, was valued at up to $25 million and generated substantial rental income. Bessent's divestment comes amid renewed U.S.-China trade relations, with China agreeing to resume soybean purchases from the U.S.

Treasury Secretary Bessent Completes Soybean Farm Divestiture to Meet Ethics Agreement

Treasury Secretary Bessent Completes Soybean Farm Divestiture to Meet Ethics Agreement

U.S. Treasury Secretary Scott Bessent announced that he has divested his interests in a soybean farm, fulfilling a requirement of the ethics agreement he signed upon joining the administration. Bessent, who previously owned up to $25 million in soybean and corn farmland in North Dakota, earned significant rental income from these properties. The divestiture was part of a broader commitment to avoid conflicts of interest by divesting various assets, including his Key Square Group hedge fund. Although the original deadline for these divestitures was April 28, 2025, Bessent completed the sale of his soybean farm ahead of an extended deadline of December 15, 2025.

Treasury Secretary Scott Bessent Sells Soybean Farm to Comply with Ethics Agreement

Treasury Secretary Scott Bessent Sells Soybean Farm to Comply with Ethics Agreement

U.S. Treasury Secretary Scott Bessent announced on Sunday that he has sold his soybean farm, a move required under an ethics agreement he entered upon taking office. This announcement was made during his appearance on CBS' 'Face the Nation'. Bessent, whose net worth is estimated at over $500 million, previously owned corn and soybean farmland in North Dakota valued at up to $25 million. The New York Times reported that he earned up to $1 million annually in rental income from these farms. Despite missing several deadlines to divest his assets as mandated by the U.S. Office of Government Ethics, Bessent completed the sale just days before the latest extended deadline of December 15. His divestment comes amid a broader context of U.S.-China trade relations, with China recently agreeing to resume soybean purchases from the U.S. following a meeting between President Trump and Chinese President Xi Jinping.

Treasury Secretary Scott Bessent Clarifies Soybean Farm Ownership Amid Ethics Concerns

Treasury Secretary Scott Bessent Clarifies Soybean Farm Ownership Amid Ethics Concerns

During a recent appearance on CBS's 'Face the Nation,' U.S. Treasury Secretary Scott Bessent faced scrutiny over his claims of running a soybean farm. Host Margaret Brennan challenged Bessent's assertion, clarifying that he owned and invested in the farm rather than actively managing it. This exchange highlighted Bessent's recent divestiture of his $25 million farming holdings, a move required by an ethics agreement to prevent conflicts of interest. Bessent, a former hedge fund manager, had to divest his assets after the Senate Finance Committee raised concerns about potential conflicts with his role as a federal official. Despite the divestiture, Bessent attempted to emphasize his agricultural knowledge, claiming to be more informed about agriculture than any treasury secretary since the 1800s.

Treasury Secretary Bessent says he has divested his soybean farm

Treasury Secretary Bessent says he has divested his soybean farm

WASHINGTON, Dec 7 (Reuters) - U.S.

Treasury Secretary Bessent Divests Soybean Farmland Amid Trade Tensions

Treasury Secretary Bessent Divests Soybean Farmland Amid Trade Tensions

Treasury Secretary Scott Bessent has divested his holdings in North Dakota soybean farmland as part of an ethics agreement. This move comes amid ongoing trade tensions between the U.S. and China, which have significantly impacted American soybean farmers. Bessent, who previously expressed solidarity with farmers affected by the trade war, announced his divestment on CBS's 'Face the Nation.' The divestment aligns with his role in the Trump administration's negotiations with China over trade and tariffs. Bessent is expected to participate in an announcement for a new $12 billion farm aid package aimed at supporting farmers affected by the trade war.

Treasury Secretary Bessent Divests Soybean Farmland Amid Trump Administration's Farmer Aid Announcement

Treasury Secretary Bessent Divests Soybean Farmland Amid Trump Administration's Farmer Aid Announcement

Treasury Secretary Scott Bessent has divested his holdings in North Dakota soybean farmland as part of an ethics agreement. This move comes as the Trump administration prepares to announce a $12 billion aid package for American farmers affected by trade tensions with China. Bessent, who has been involved in trade negotiations with China, stated that he felt the impact of the trade war personally, having previously identified as a soybean farmer. The divestment was required under an ethics agreement due to his role in the administration. The aid package aims to support farmers who have been hit hard by China's increased tariffs on U.S. soybeans, a response to tariffs imposed by President Trump on Chinese goods.

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