U.S.-China Economic Chiefs Hold Video Call on Nov. 6; U.S. Urges Full Implementation of Busan Consensus
WASHINGTON, D.C. — He Lifeng, China's lead negotiator for economic and trade affairs and a vice premier, held a video call on the evening of November 6 (Beijing time) with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer. The two sides exchanged views on implementing the consensus reached by the two heads of state at their meetings in Beijing and Washington and on the outcomes of earlier economic consultations, and agreed to keep the U.S.-China economic consultation mechanism playing its role. In a statement, the U.S. Treasury Department said Bessent and Greer urged China during the call to fully and immediately implement the Busan agreement. The Busan agreement stems from the two presidents' meeting on the sidelines of the APEC summit in Busan, South Korea, in October 2025, a de-escalation arrangement reached after a year of tit-for-tat tariffs and rising tensions; the trade truce has been extended to January 10, 2027. Under the two sides' earlier statements, China will continue buying U.S. soybeans and pause new rare-earth export controls, while the U.S. side says China has agreed to buy about $17 billion of U.S. farm products annually starting in 2026. The call drew attention from the Chinese-American business community, with further tariff-relief rules still to be announced.
Source: U.S. Department of the Treasury
Published by GSM · USA (original Chinese edition)
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