Bessent Calls He Lifeng, Urges Immediate Fulfillment of Trade Pledges
On.cc · 2 SOURCESabout 2 hours ago4 MIN
Summary
US Treasury Secretary Scott Bessent and Trade Representative Greer held a video call with Chinese Vice Premier He Lifeng on Friday evening, pressing Beijing to immediately fulfill commitments from the Busan trade agreement signed nearly a year ago. The US side expressed concern over China's recent actions and emphasized that continued progress depends on concrete results, particularly in rare earths, critical minerals, and agricultural purchases. Both sides agreed to continue strengthening cooperation under the framework of their leaders' common understanding.
Key Points
- US Treasury Secretary Scott Bessent (貝森特) and Trade Representative Greer (格里爾) held a video call with Chinese Vice Premier He Lifeng (何立峰) on Friday evening (November 6)
- The Busan trade agreement capped US tariffs on Chinese goods at approximately 20%
- China committed to purchasing 25 million metric tons of US soybeans over three years under the agreement
- Beijing also pledged to buy $17 billion worth of other US agricultural products
- The original November 10 deadline was extended two months to January 10 next year
Why It Matters
The call highlights the Trump administration's tough stance on trade enforcement, as the US signals it will closely monitor China's compliance with the Busan agreement. For Hong Kong, which serves as a major trade and financial hub between China and the US, any escalation in trade tensions could impact regional supply chains and business confidence .
The call highlights the Trump administration's tough stance on trade enforcement, as the US signals it will closely monitor China's compliance with the Busan agreement. For Hong Kong, which serves as a major trade and financial hub between China and the US, any escalation in trade tensions could impact regional supply chains and business confidence .