Bessenter, Greer, and He Lifeng spoke by phone, urging the fulfillment of Busan trade commitments.
U.S. Treasury Secretary Bessenter and U.S. Trade Representative Greer spoke with Chinese Vice Premier He Lifeng, expressing concern over recent Chinese actions and emphasizing that China must fully and immediately fulfill its commitments made under the agreement reached a year ago in Busan, South Korea. Bessenter stated that continued progress depends on concrete results, and the U.S. will closely assess China's implementation. In a statement, Greer's office said China must take "concrete actions" to fulfill its commitments, particularly regarding agricultural purchases, rare earths, and other critical minerals. Furthermore, the U.S. tariff exemptions for some Chinese products are set to expire on November 10, and the U.S. has not yet decided whether to extend them. (Source: Bloomberg)