US urges China to honour Busan trade deal commitments

What the report says

US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer met Chinese Vice Premier He Lifeng to press Beijing to carry out commitments tied to the Busan trade agreement, according to a Treasury Department statement cited by Al Jazeera. The discussions took place on Friday, with Washington saying it wants China to move quickly on the deal and that future progress will depend on concrete implementation.

The Busan arrangement, reached by Presidents Donald Trump and Xi Jinping, was intended to reduce trade friction by easing tariffs and some technology-related restrictions. Al Jazeera reported that the deal was meant to de-escalate tensions that had built up through reciprocal tariff actions between the two countries. The Treasury said Bessent also raised concerns about recent Chinese actions and stressed that the United States will closely watch how Beijing follows through.

China signaled this week that it could expand purchases of US farm products if both sides carry out their tariff-cut agreement. A Chinese commerce ministry spokesperson said those purchases depend on implementing the agreed reciprocal reduction framework. Al Jazeera also noted earlier US proposals involving major agricultural purchases, including soybeans. The issue matters because trade between the world’s two largest economies affects tariffs, technology restrictions, agricultural exports and broader economic ties.