US Treasury Secretary Scott Bessent urged China to carry out its Busan commitments fully and immediately during talks with Vice Premier He Lifeng. Washington raised concerns about recent Chinese actions, while Beijing linked further agricultural purchases to reciprocal tariff reductions. The discussion concerned implementation of an existing arrangement aimed at easing trade tensions.
US Treasury Secretary Scott Bessent and the US trade representative spoke with Chinese Vice Premier He Lifeng about the Busan trade arrangement. In its November 6 account of the call, the US Treasury said Bessent urged China to implement its commitments fully and immediately. The officials also reaffirmed the value of direct communication in managing the bilateral economic relationship.[1], [2]
Bessent raised concerns about recent Chinese actions, although Treasury did not identify the specific measures in its announcement. Washington said further progress depended on concrete results and that it would assess Chinese implementation closely. The arrangement belongs to President Donald Trump and President Xi Jinping’s effort to ease disputes over reciprocal tariffs and technology restrictions. It followed tariff measures imposed by Washington and answered by Beijing.[1]
Chinese Commerce Ministry spokesperson Huang Ling said Thursday that Beijing was open to increasing purchases of American agricultural goods if both sides implemented their agreed reciprocal tariff reductions. The Chinese statement referred to reductions worth 30 billion dollars on each side. In May, the White House said China had agreed to buy 17 billion dollars of US farm products annually from 2026, with the first year adjusted proportionally. Those purchases were described as additional to an earlier soybean commitment.[1]
