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US urges China to honour Busan trade deal commitments
US officials have urged China to carry out commitments under the Busan trade agreement, warning that continued progress depends on concrete results. The exchange highlights uncertainty over whether the two countries will follow through on measures intended to ease trade tensions.
Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer met Chinese Vice Premier He Lifeng. China says it is open to buying more US farm goods if both sides implement a reciprocal tariff-reduction arrangement worth $30bn each; earlier commitments included $17bn in annual US agricultural purchases from 2026 and purchases of soya beans.
In short
- US officials pressed China to implement the Busan trade deal.
- China links further farm purchases to reciprocal tariff cuts.
- Earlier commitments included $17bn in annual US farm goods from 2026.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
The US can reasonably press for clear, verifiable delivery on commitments it says were agreed in Busan, arguing that follow-through is needed to build trust and show that trade tensions are easing. Concrete purchases and reciprocal tariff reductions could give businesses greater certainty and make the agreement more than a statement of intent.
The case against
China can reasonably argue that its willingness to buy more US farm goods is tied to reciprocal tariff reductions, so its commitments should be assessed alongside whether the US fulfils its part of the arrangement. Linking implementation on both sides may help ensure the deal is balanced and sustainable, rather than asking one country to act before the other.