It seems China has been keeping its promises regarding the trade agreement made with President Trump, according to Treasury Secretary Scott Bessent. He’s quite optimistic about “very strong economic growth” by 2026.
The White House revealed a comprehensive trade deal with China back in November. The agreement has China purchasing more American goods, among other commitments.
“I can assure you, the Chinese have held up their side of things,” Bessent reported on Fox News’ “Sunday Morning Futures.” He mentioned China had fulfilled its soybean purchases.
As outlined in the pact, China is to acquire 12 million metric tons of American soybeans during the closing months of 2025, rising to 25 metric tons in the ensuing years – 2026 through 2028.
The Dow Jones recently celebrated a milestone, surpassing 50,000 for the first time. Together with other favourable economic indicators, Bessent sees reasons for optimism.
“Industrial sectors are hitting new highs,” Bessent pointed out. “From my extensive experience on Wall Street, that’s a clear signal of prosperous times ahead for Main Street.”
Yet, critics highlight some softer figures. The unemployment rate at the end of 2025 was 4.4%, up slightly from 4% at the start of the year.
Furthermore, the consumer price index rose by 2.7% in December 2025 compared to the previous year, a tad higher than the Federal Reserve’s 2% target. Even so, a buoyant Dow Jones and higher than expected 4.4% growth in Q3 last year signal positive trends.
The President discussed various global matters with Chinese leader Xi Jinping recently. Bessent, who joined the call, believes Trump is the sole global leader commanded by Xi’s respect.
Last week, Bessent faced off with Democrats on Capitol Hill about Trump’s economic record. “Our economic plan is working, and they can’t match our growth metrics,” Bessent declared. A truflation measure, using daily observations, now sits below 1 percent – hinting at steady inflation, robust growth, record-high stocks, and the lowest crime rate in a century.
“These are not the topics Democrats wish to discuss,” he added.
Switching gears, Bessent applauded Trump’s nomination of Kevin Warsh to the Federal Reserve’s helm. With prior commendations, Warsh garnered 100 votes, showcasing bipartisan support.
“Kevin Warsh will be independent, yet aware that the Fed answers to the American populace,” Bessent stated.
However, a detailed release of the trade agreement with China remains pending. No clear timeline for publishing the full text has been provided by the Treasury.
President Trump is also enhancing his affordability message ahead of the midterms to sway against Democrats.
And there you have it, a succinct view of the ever-evolving US-China trade relations and the optimism driving economic projections into 2026. For further insights, you might wish to explore additional information on [US-China Trade Relations](https://www.cfr.org/backgrounder/us-china-trade-war-timeline) and [Economic Indicators](https://www.bbc.com/news/business-42575008).
