US-China trade · Public record
US officials press China on trade deal implementation ahead of Trump-Xi summits
The Trump administration warned Beijing to immediately implement commitments under a nearly year-old trade agreement, particularly on rare earths and agricultural purchases, during a call with China's lead trade negotiator. The pressure comes ahead of two planned summits between Presidents Trump and Xi in November and December.
US officials demand implementation of Busan agreement
Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer urged Chinese Vice Premier He Lifeng in a call on 6 November to implement terms of the pact agreed in Busan, South Korea, in October 2025, according to the US Trade Representative's Office. Greer emphasized the critical importance of China taking concrete actions to fully implement past commitments, particularly as they relate to agricultural purchases, rare earths and other critical minerals, USTR said in a statement.
Bessent said in a social media post that he emphasized the importance of China fully and immediately honouring its commitments, raised concerns about recent Chinese actions and underscored that progress depends on concrete results. The Treasury said in a statement that the US will closely assess China's implementation of the arrangement.
China expresses concern over US restrictions
During the call, China expressed serious concern over recent US trade restrictions targeting Beijing, according to China's official Xinhua news agency. He, China's lead negotiator on trade relations with the US, agreed with his US counterparts to continue using consultation for stable and positive development of trade ties, Xinhua reported.
Beijing's commerce ministry said on Thursday that China was open to buying more US farm goods, but only if the two sides implement their reciprocal tariff-cut agreement. Beijing has signaled tariff concessions remain central to its aims.
Context of Busan deal and agricultural commitments
The Busan trade deal, which expires on 10 January, capped US tariffs on Chinese goods implemented during Trump's second term at about 20 per cent. The US says the deal was designed to lift restrictions put in place in 2025 during a period of tariff escalations between the world's two largest economies.
China has pledged to buy 25 million metric tons of US soybeans for the next three years and boost purchases of other American farm goods by 17 billion US dollars. The White House said in May that Beijing had agreed to buy 17 billion US dollars 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 in October last year to buy US soybeans.
Complaints over rare earths access
Greer, Bessent and other US officials have frequently complained about difficulties that US companies say they are experiencing in receiving sufficient quantities of rare earths and other critical minerals from China under the Busan agreement. Greer said the Trump administration will pursue balanced trade with China by monitoring compliance of past commitments while unlocking lasting benefits for American farmers, ranchers, manufacturers, and workers.
Upcoming summits and proposed tariff package
Presidents Donald Trump and Xi Jinping are expected to meet at the summit of the Asia-Pacific Economic Cooperation forum in Shenzhen, China, on 18 and 19 November, and the Group of 20 summit in Miami on 14 and 15 December.
Following a September summit between Xi and Trump in Washington, the two sides proposed a 60 billion US dollar package of reciprocal tariff cuts, including roughly 17 billion US dollars worth of US farm goods that China imported in 2024, though the plan has not been finalized.
What to watch
- Whether China increases rare earths and critical minerals deliveries to US companies before the 10 January expiration of the Busan agreement
- Whether the 60 billion US dollar reciprocal tariff-cut package proposed in September is finalized at the APEC summit on 18-19 November or G20 summit on 14-15 December
- Whether China meets the prorated 2026 target for 17 billion US dollars in annual agricultural purchases
- Whether the Busan agreement is extended or renegotiated before its 10 January expiration
What we don't know yet
- What specific recent Chinese actions prompted Bessent's concerns
- What specific US trade restrictions China raised concerns about during the call
- How much of the 25 million metric tons of soybeans and 17 billion US dollars in agricultural goods China has purchased to date