US Urges China to Implement Busan Trade Deal Commitments Without Delay
The United States has urged China to implement the commitments of the Busan trade agreement fully and without delay. US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer gave that message in talks with Chinese Vice Premier He Lifeng.
Announcing the discussions on Friday, the US Department of the Treasury said in a statement that Bessent emphasised the importance of China fully and immediately implementing its commitments made in Busan and raised concerns about recent Chinese actions.
The statement added that Bessent underscored that continued progress depends on concrete results and that the United States will closely assess China's implementation of the arrangement.
The Busan deal was negotiated between Washington and Beijing. Under it, US President Donald Trump and Chinese President Xi Jinping agreed to ease tariffs and lift restrictions on technology to de-escalate tensions amid tit-for-tat tariffs imposed first by Washington and then by Beijing.
On Thursday, China said it was open to buying more US farm goods if the world's two largest economies agreed to implement the reciprocal tariff cut.
Chinese Ministry of Commerce spokesperson Huang Ling said in a statement that China has consistently been open to expanding purchases of agricultural products from the US, but only on the condition that the two sides implement their agreed '30 billion for 30 billion' reciprocal tariff-reduction arrangement.
The move follows a September meeting between Trump and Xi, when the White House proposed $60bn in cuts, including $17bn worth of US farm goods.
In May, the White House said Beijing agreed to buy $17bn of US agricultural goods annually from 2026, with this year's target adjusted on a prorated basis. Those purchases were in addition to a commitment made last October to buy US soya beans.
The Treasury added that Bessent reiterated the Trump Administration's commitment to pursuing trade and economic policies that benefit American workers, farmers, and businesses and strengthen US economic and national security.
