US presses China on trade pledges ahead of Trump-Xi summits

· Trade · United States · China

US Treasury Secretary Scott Bessent said Washington pressed Beijing to fully and immediately honour its commitments from a 2025 accord, particularly on agricultural purchases and rare earths supply, in a video call ahead of expected Trump-Xi meetings. China's Commerce Ministry raised 'serious concerns' about recent US trade and economic restrictions, and vowed to hit back against US sanctions on two Chinese companies over their dealings with a third party. Presidents Donald Trump and Xi Jinping are expected to meet at two separate summits, one in China and one in the US. Japan's business community is meanwhile working to ease Tokyo-Beijing tensions.

Why it matters：The world's two largest economies are testing a fragile trade truce, with agricultural purchases and rare earths at the center of global supply chains.

Key points

  • Bessent said progress depends on concrete results from China.
  • China objects to US sanctions on two Chinese firms and reserves the right to respond.
  • Trump and Xi are expected to meet at summits in China and the US.

Sources (original reporting)

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