US presses China to ‘immediately’ honor Busan trade commitments

In a phone call, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer on Friday urged Chinese Vice Premier He Lifeng to “fully” implement the commitments Beijing made under the 2025 Busan trade arrangement.

“I emphasized the importance of China fully and immediately honoring its commitments, raised concerns about recent Chinese actions and underscored that progress depends on concrete results,” Bessent said on US social media platform X.

According to a Treasury readout of the call, the officials discussed the bilateral economic relationship and implementation of the Busan arrangement, and “reaffirmed the value of maintaining direct and candid communication.”

Bessent “underscored that continued progress depends on concrete results and that the United States will closely assess China’s implementation of the arrangement,” the readout said.

He also reiterated the Trump administration’s commitment to “pursuing trade and economic policies that benefit American workers, farmers, and businesses and strengthen U.S. economic and national security,” it added.

The Busan arrangement is the trade truce that US President Donald Trump and Chinese President Xi Jinping reached in South Korea in October 2025.