US-China trade talks to continue as Washington presses Beijing to honour Busan deal
The US and China are continuing trade talks, with Washington pressing Beijing to fulfill commitments made under the Busan agreement, specifically concerning rare earth supplies, critical minerals, and agricultural purchases. US officials, including Treasury Secretary Scott Bessent and USTR Jamieson Greer, discussed these concerns with Chinese Vice-Premier He Lifeng, emphasizing the need for concrete results.
Why it matters
Ongoing trade disputes between the US and China have significant global economic implications, affecting supply chains, commodity markets, and international relations, potentially leading to further trade tensions or resolutions.
China and the US have agreed to continue consultations to ensure stable and positive trade relations, local media Xinhua reported.The development comes as Washington pushes Beijing to fulfil the commitments made under the trade truce agreed between US President Donald Trump and Chinese President Xi Jinping in Busan last year.The US has raised concerns that China is falling short of its promises on rare earth supplies, critical minerals and agricultural purchases.These concerns were discussed during a phone call on Friday morning between US treasury secretary Scott Bessent, US trade representative Jamieson Greer and Chinese vice-premier He Lifeng, who oversees trade negotiations with Washington.During the call, the US officials told China that it needed to fully deliver on the commitments made under the Busan agreement.
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