US Urges China to Honor Trade Agreement Commitments Ahead of Summit
Amid upcoming meetings between Trump and Xi, the US emphasizes China's need to fulfill trade deal obligations.
The United States government has reiterated its demand for China to fulfill its obligations under a significant trade agreement established nearly a year ago. This call to action comes ahead of a much-anticipated meeting between President Trump and China's President Xi Jinping.
Concrete Requests Amid Tensions
On November 6, senior officials from the Trump administration, including Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, expressed their concerns during a conversation with Chinese Vice Premier He Lifeng. The conversation focused on China's commitment to critical elements of the trade deal, notably the delivery of rare earth minerals and agricultural products.
During the call, Ambassador Greer stressed the urgency for China to take immediate and actionable steps to comply with the agreed terms related to key commodities, including agricultural purchases and rare earths, crucial for U.S. manufacturers.
Concerns from Beijing
In response to the U.S. demands, China conveyed its apprehensions regarding the recent trade restrictions imposed by the United States. According to China's official news agency, Xinhua, Vice Premier He recognized the necessity for both countries to engage in continuing consultations to foster a “stable and positive” trading relationship.
The two nations are gearing up for separate summits where trade discussions will be pivotal. Presidents Trump and Xi are slated to meet at the Asia-Pacific Economic Cooperation (APEC) forum in Shenzhen, China on November 18-19, followed by the Group of 20 (G20) summit in Miami on December 14-15.
Monitoring Implementation and Future Outlook
The Trump administration's objective is to achieve balanced trade with China. Greer emphasized the importance of transparency in meeting past commitments while aiming to unlock long-term benefits for American farmers, ranchers, and workers. This ongoing dialogue reflects the administration's commitment to monitoring compliance closely.
U.S officials have frequently raised concerns regarding the challenges American companies face in sourcing sufficient quantities of essential minerals from China, a vital aspect of the 2025 Busan agreement. The arrangement was designed to mitigate restrictions that arose during a period of escalating trade tariffs.
Set to expire on January 10, the Busan trade deal capped the tariffs imposed on Chinese goods at about 20%. Under the agreement, China made significant commitments, including purchasing 25 million metric tons of U.S. soybeans over the next three years and increasing imports of American agricultural products by $17 billion.
Future Trade Initiatives
Bessent voiced the administration's expectations for China to promptly and fully uphold its commitments. He expressed concerns about recent activities that may hinder progress in achieving positive results. Treasury Secretary Bessent highlighted the importance of ensuring that both countries adhere to their trade agreements.
China has indicated its openness to increasing the purchase of U.S. agricultural products, provided the two governments can effectively execute reciprocal tariff reductions. Following a productive summit between Presidents Xi and Trump earlier this year, there were proposals for a substantial $60 billion package of reciprocal tariff cuts, which included significant agricultural purchases. However, the specifics of this arrangement remain unfinished.
The White House previously announced in May that Beijing agreed to an annual commitment of $17 billion for U.S. agricultural goods starting in 2026, with targets adjusted proportionately based on current purchasing levels. This commitment is in addition to the previously established agreement for the purchase of U.S. soybeans.