Leaked texts on Scott Bessent's phone suggest the White House got played bailing out Argentina--and U.S. soybean farmers

[Yo_Mama_Been_Loggin]

are the casualties

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.

The photo taken by Angelina Katsanis for the Associated Press last week shows Bessent reading a text that appears to be from Agriculture Secretary Brooke Rollins.

“Finally—just a heads up, I’m getting more intel, but this is highly unfortunate,” the text said. “We bailed out Argentina yesterday and in return, the Argentine’s [sic] are removing their export tariffs on grains, reducing their price, and sold a bunch of soybeans to China, at a time when we would normally be selling to China. Soy prices are dropping further because of it. This gives China more leverage on us.”

https://finance.yahoo.com/news/leaked-texts-scott-bessent-phone-152824667.html

You dumbasses got played. How about thinking about your fellow Americans for a change?

[AZJonnie]

1. Why would a country have EXPORT taxes on products they desire to sell overseas?

Honest question, I'm confused why there would be any such thing? Who pays for these 'export taxes'? I could see if the product was a closely guarded thing, like some precious metal produced in small quantities, but soybeans? Do countries do this to keep prices lower for consumers inside the country? Meaning this China deal would be, in effect, the Argentinian government screwing over the citizens, because now food prices will rise?

[progressoid]

4. "is intended to generate revenue for the government, regulate trade, or protect domestic industries."

Reasons for Implementing Export Tariffs:

- Protect Domestic Industries: By imposing tariffs, governments can make foreign goods more expensive, encouraging consumers to buy local products instead.
- Raise Government Revenue: Export tariffs can provide a significant source of revenue for governments, particularly in countries dependent on trade.
- Balance Trade Deficits: Export tariffs can help reduce the amount of a country's goods being sent abroad, aiming to balance trade and avoid large deficits.
- Influence Foreign Policy: Tariffs can be used as a tool in diplomatic negotiations or to pressure other countries in trade disputes.
- Preserve Natural Resources: Tariffs can discourage the over-exploitation of valuable resources, ensuring their long-term availability for domestic needs.
- Promote Economic Development: Protecting certain sectors of the economy by limiting exports can give local industries a chance to grow and thrive without overwhelming international competition.


...https://www.opsengine.co/glossary/what-is-export-tariff

‍

[AZJonnie]

5. A few of those sound much more like how import tariffs would work as opposed to export tariffs

Esp. the first and last ones

But thanks

[Torchlight]

2. American people are waking up to what the planet already knows:

everyone plays Mr. trump like a cheap fiddle, they throw a few rubles into violin case while removing a hundred bucks of taxpayer money at the same time, and the idiot-in-chuff takes Policy Victory lap through walmart in his gilded golf-cart.

[bronxiteforever]

3. This should be a talking point for us.

Incompetent expenditure of billions of dollars while simultaneously killing us produce, this is not hard to understand.

[AZJonnie]

6. Argentina's export tax is back in place after a preset cap of exports was reached in 2-3 days

September 22, 2025: The Argentine government issued a decree suspending export taxes on soybeans, corn, wheat, and their derivatives through the end of October, or until total declared exports reached $7 billion—whichever came first.

September 24–25, 2025: The sales cap was reached in just 2–3 days, largely due to a massive wave of buying from international traders (especially China).

September 24, 2025: The Argentine ARCA fiscal agency officially announced the return of export taxes after the $7 billion quota was hit. The rate went back to the previous levels (e.g., 26% for soybeans, 24.5% for soybean oil and meal, 9.5% for corn)

There wasn't exactly a "huge new deal with China" (as in, it's not a new "trade agreement" ). It was, however, a large one-time sale to China, though (and other countries apparently bought some as well)

[W_HAMILTON]

7. And this dipshit was supposed to be one of the """smart""" ones.