Business & Finance
US officials press China to implement Busan trade deal commitments
Treasury and trade officials pressed Beijing on implementation; Beijing says farm purchases depend on reciprocal tariff cuts.
The short version
- US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer met Chinese Vice Premier He Lifeng to press Beijing to implement Busan trade commitments.[Al Jazeera]
- Washington says progress depends on concrete results and that it will closely assess China's implementation, while Beijing says it will expand US farm purchases only if both sides implement the reciprocal tariff-reduction arrangement.[Al Jazeera]
- Chinese Vice Premier He Lifeng voiced serious concern over recent US trade restrictions, while both sides agreed to strengthen cooperation, according to Xinhua.[Deutsche Welle]
Key facts
- Treasury Secretary Scott Bessent and USTR Jamieson Greer met Vice Premier He Lifeng to urge immediate implementation of Busan agreement commitments.[Al Jazeera]
- The US Treasury said continued progress depends on concrete results and that Washington will closely assess China's implementation.[Al Jazeera]
- China's Commerce Ministry said it is open to expanding US farm purchases only if both sides implement the agreed reciprocal tariff-reduction arrangement.[Al Jazeera]
- He Lifeng expressed serious concern over recent US trade restrictions targeting China, according to Xinhua.[Deutsche Welle]
- Both sides agreed to strengthen cooperation and manage differences to promote a stable trade relationship, according to Xinhua.[Deutsche Welle]
What remains uncertain
- Each government's public statement sets conditions on the other side, and the reporting does not indicate whether either will move first or on what timeline.[Deutsche Welle · Al Jazeera]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.