US urges China to honour Busan trade deal commitments

Trump-Xi Busan deal aimed to ease tariffs and tech restrictions; progress hinges on China’s fulfilment of commitments. Trump-Xi Busan deal aimed to ease tariffs and tech restrictions; progress hinges on China’s fulfillment of commitments. United States Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer met Chinese Vice Premier He Lifeng to urge Beijing to immediately implement commitments under the Busan trade agreement. “Secretary Bessent emphasised the importance of China fully and immediately implementing its commitments made in Busan and raised concerns about recent Chinese actions. He underscored that continued progress depends on concrete results and that the United States will closely assess China’s implementation of the arrangement,” the US Department of the Treasury said in a statement announcing the discussions on Friday.

The announcement refers to a trade deal negotiated between Washington and Beijing in which US President Donald Trump and Chinese President Xi Jinping agreed to ease tariffs and lift restrictions on tech to de-escalate tensions amid tit-for-tat tariffs imposed first by Washington and then by Beijing. On Thursday, China said it was open to buying more US farm goods if the world’s two largest economies agreed to implement the reciprocal tariff cut. “China has consistently been open to expanding purchases of agricultural products from the US, but only on the condition that the two sides implement