‘Completely and immediately’: US urges China to honor trade commitments, reports concerns over rare earths, farm purchases | Today’s news
The United States has pressed China to meet commitments made under a trade deal struck a year ago in South Korea’s Busan, raising concerns over Beijing’s recent moves to buy agricultural products, rare earths and other critical minerals, Bloomberg reported.
US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer raised the issue during a video call with Chinese Vice Premier He Lifeng.
Bessent stressed the need for Beijing to fully and immediately implement its commitments, the finance ministry said in a reading on Friday. He also drew attention to China’s recent moves, saying Washington would judge China’s compliance based on tangible results.
“China must live up to its obligations”
Greer, meanwhile, stressed the need for China to take concrete steps to meet its commitments, especially those related to purchases of agriculture, rare earths and other critical minerals, his office said.
China also raised concerns during the discussion, according to a Bloomberg report. The two sides exchanged views on recent US trade and economic restrictions, with Beijing expressing “serious concerns”, state-run Xinhua News Agency reported on Saturday. The discussions were described as frank and constructive, with both sides agreeing to strengthen cooperation and manage their differences.
The latest commitment comes amid uncertainty over the implementation of a trade truce between the world’s two largest economies. US President Donald Trump and Chinese President Xi Jinping agreed to extend the deal until January 10, preventing a rise in tariffs and ensuring the continued flow of rare earths.
Bessent, Greer and On also met in New York ahead of Trump’s meeting with Xi in September. Both sides described these discussions as productive.
US reports delay in fulfilling Chinese commitments
However, Washington continued to point out delays in some of China’s commitments. In an interview with Bloomberg in October, Greer said the U.S. has been receiving rare earths from China, but shipments have not arrived at the agreed volume or pace.
Greer also pointed to differences within the Chinese administration over implementation, saying some government departments seemed engaged while others were more bureaucratic.
When the trade truce was extended in September, Bessent said China’s implementation of some of its commitments was imperfect, particularly with regard to purchases of agricultural products. He also said Beijing was making significant purchases of American soybeans.
Trump to meet Xi in Shenzhen
The latest warning comes less than two weeks before Trump and Xi are due to meet at the Asia-Pacific Economic Cooperation summit in Shenzhen. Bessent has previously indicated that he may hold further discussions with He on the sidelines of the gathering, including the US-China artificial intelligence dialogue announced in September.
A trade deal is also pending in the near future. Tariff exemptions for some Chinese products expire on November 10, and US officials have yet to say whether they will be extended as part of the truce.
The uncertainty drew criticism from industry groups, including the Consumer Technology Association, which argued that the exemptions were important to supply chains.
Any disruption to the deal could revive concerns among businesses and financial markets about the long-running trade conflict between Washington and Beijing. The Trump administration has sought to avoid an escalation that could put further pressure on the US economy.
Bessent, who leads the Trump administration’s negotiations with China, also criticized Beijing for the trade imbalance. After the Group of 20 meeting in North Carolina in September, he said China refused to support the joint statement, which included provisions on critical minerals, industrial overcapacity, dumping and centrally planned economies.
