Key facts
- Greer told He Lifeng that China must take concrete action on farm purchases, rare earths and other critical minerals, USTR said.
- The Busan pact expires on January 10 and capped US tariffs on Chinese goods at about 20%.
- China pledged under the pact to buy 25 million metric tons of US soybeans over three years, USTR said.
- China also pledged to raise purchases of other US farm goods by $17 billion, according to USTR.
- Bessent said he raised concerns about recent Chinese actions and that progress depends on concrete results.
- Trump and Xi are expected to meet at APEC in Shenzhen on November 18-19 and at the G20 in Miami on December 14-15.
Key facts
- Greer told He Lifeng that China must take concrete action on farm purchases, rare earths and other critical minerals, USTR said.
- The Busan pact expires on January 10 and capped US tariffs on Chinese goods at about 20%.
- China pledged under the pact to buy 25 million metric tons of US soybeans over three years, USTR said.
- China also pledged to raise purchases of other US farm goods by $17 billion, according to USTR.
- Bessent said he raised concerns about recent Chinese actions and that progress depends on concrete results.
- Trump and Xi are expected to meet at APEC in Shenzhen on November 18-19 and at the G20 in Miami on December 14-15.
Numbers
- 25 million metric tons — US soybeans China pledged to buy over three years under the Busan pact
- $17 billion — increase in other US farm goods purchases China pledged
- about 20% — cap on US tariffs on Chinese goods under the Busan pact
- $60 billion — proposed reciprocal tariff cuts, including about $17 billion of US farm goods
Who
- Scott Bessent — US Treasury secretary who pressed He on commitments
- Jamieson Jamieson — US trade representative who emphasized rare earths
- He Lifeng — Chinese vice premier pressed on implementation
- Xi Jinping — Chinese president due to meet Trump
- Donald Trump — US president scheduled to meet Xi
What's next
- Trump and Xi are expected to meet at the APEC leaders summit in Shenzhen on November 18-19.
- Trump and Xi are expected to meet at the G20 leaders summit in Miami on December 14-15.
- The Busan trade agreement expires on January 10.
Caveats
- The report gives the day of the week but not the date for the call; the event date was resolved from the publication stamp.
- The account of China's commitments rests on US statements; Beijing has not confirmed the figures in this report.