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BackBessent calls on China to fulfill its commitments
Bessent calls on China to fulfill its commitments
Urgent
Bloomberg HT1 hour agoBusiness2 min readTürkiyeView original

Bessent calls on China to fulfill its commitments

Agricultural products, rare earth elements and critical minerals were brought to the agenda during the meeting held via video conference between US and Chinese officials.

Quick Look

  • US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met with Chinese Deputy Prime Minister Hı Lifing via video conference and demanded that the commitments within the scope of the Busan Agreement be fulfilled completely and without delay.
  • During the meeting, US-China trade relations, agricultural product purchases and critical minerals were discussed.

AI-generated summary

Why It Matters

US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer met with Chinese Deputy Prime Minister Hi Lifing via video conference. During the meeting, commitments within the scope of the Busan Agreement, US-China trade relations and critical minerals were discussed.

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In his meeting with Chinese Deputy Prime Minister Hı Lifing, US Treasury Secretary Scott Bessent emphasized that China must fulfill its commitments within the scope of the Busan agreement completely and without delay.

In the statement made by the US Treasury Department, it was reported that Bessent and US Trade Representative Jamieson Greer had a meeting with Chinese Deputy Prime Minister Hi Lifing.

It was stated that economic relations between the USA and China and developments regarding the implementation of the Busan Consensus were discussed during the meeting.

In the statement, it was stated that Bessent and Greer drew attention to the importance of maintaining direct and open communication between the two countries.

Bessent made evaluations about the meeting in his post on his social media account.

Drawing attention to China's obligations under the Busan Agreement, Bessent said, "I emphasized the importance of China fulfilling its commitments completely and immediately."

Bessent stated that he expressed his concerns about the steps taken by China recently and emphasized that the progress between the two countries depends on concrete results.

Stating that the US President Donald Trump administration will continue its policies to strengthen economic and national security, Bessent stated that they will continue to protect the interests of American workers, farmers and businesses.

Agricultural products and critical minerals are on the agenda

In the statement made by the US Trade Representative's Office, it was reported that the meeting between Bessent and Greer with Chinese Deputy Prime Minister Hı was held via video conference.

It was stated in the statement that US-China trade and economic relations were evaluated during the meeting, and Greer emphasized that China should fulfill its previous commitments.

It was stated that Greer pointed out that it is critical for China to take concrete steps, especially regarding the purchase of agricultural products, rare earth elements and other critical minerals.

The statement stated that the Trump administration will continue to closely monitor China's compliance with its past commitments.

It was stated in the statement that the USA will continue to maintain a balanced trade relationship with China, and that this approach is aimed to provide permanent economic benefits for American farmers, livestock breeders, producers and workers.

What to Watch

AI outlook — possibilities, not facts

  • The US administration will continue to closely monitor China's compliance with its commitments

    Very likely · Within weeks

  • Concrete steps can be expected from China regarding agricultural products and critical minerals

    Possible · Within weeks

Open Questions

  • The scope and dates of the Busan Consensus have not been clarified.
  • No specific deadline has been given for China's commitments
  • The measures to be taken in case commitments are not fulfilled have not been disclosed.

Related Topics

This article was originally published by Bloomberg HT.

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