US Officials Demand Full Implementation of 2025 Trade Pact Before Shenzhen Summit

Trade tensions between the world's two largest economies have resurfaced as senior US government figures press China to execute the terms of their 2025 agreement before the two leaders meet in Asia.

On Friday, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer held a videoconference with Chinese Vice Premier He Lifeng. Greer's office stated that he urged Beijing to take concrete steps to fulfill earlier promises, specifically regarding agricultural purchases and the export of rare earths and other critical minerals.

The demands target the agreement Trump and President Xi Jinping reached in Busan, South Korea, during the 2025 APEC summit. That accord capped US tariffs on Chinese goods at approximately 20 percent. In exchange, China committed to buying 25 million metric tons of US soybeans over three years. Beijing also agreed to maintain rare earth exports and suspend new restrictions on those shipments, a sector where the Trump administration has previously cited supply shortfalls.

Following the call, Bessent posted on X that the administration would continue supporting American workers and farmers while strengthening economic and national security. However, He Lifeng voiced "serious concern" about recent US trade restrictions affecting China, according to the state news agency Xinhua. Xinhua did not specify which restrictions He was referencing but noted that both sides agreed to manage their differences appropriately to maintain a stable trade relationship.

The current agreement was extended from its original one-year term during Xi's September visit to the White House. The pact now runs until January 10, 2027. Trump and Xi are expected to meet again at the APEC forum in Shenzhen on November 18 and 19.

Beijing has separately confirmed for the first time that discussions are underway for a trilateral summit involving Xi, Trump, and Russian President Vladimir Putin. Chinese Foreign Ministry spokesperson Mao Ning told a briefing in Beijing this week that China is communicating with relevant parties about holding a meeting of the three leaders alongside the APEC gathering.