The United States urges China to comply with the terms of the Busan trade deal
The United States and China discussed economic relations as officials raised trade concerns ahead of APEC. China agreed to purchase 25 million metric tons of U.S. soybeans through 2028 under the Busan agreement. China also agreed to suspend new export controls on rare earths.
- The Chinese side expressed serious concerns over recent US economic and trade restrictions imposed on China.
- U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer discussed U.S.-China economic relations with Chinese Vice Premier He Lifeng.
- China agreed to buy 25 million metric tons of US soybeans for three years.
- The trade accord capped US tariffs on Chinese goods at about 20 percent.
- The U.S. Treasury stated continued progress depends on concrete results.
- Scott Bessent said he emphasized China fully and immediately honoring its commitments.
- China agreed to suspend new export controls on rare earths.
- Beijing's Foreign Ministry said it was in contact with Washington and Moscow.
Outlets: China Labour Bulletin, Deutsche Welle, Financial Times, Free Malaysia Today, Mint, RFI 中文, SCMP China, The Hindu (International), The Japan Times, The Korea Times, Times of India (Top)
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