Yasin Gungor
30 July 2026•Update: 30 July 2026
US Treasury Secretary Scott Bessent on Thursday pressured Beijing to adhere to its trade obligations during a high-level discussion with Chinese Vice Premier He Lifeng.
“I emphasized that we expect Beijing to fully meet its commitments on rare earths and U.S. agricultural products,” Bessent said on US social media company X following the video call, which also included US Trade Representative Jamieson Greer.
The talks also focused on implementing trade and investment boards, a mechanism intended to foster a more "balanced, fair, and constructive" economic relationship between the world's two largest economies, said Bessent.
The discussion serves as a precursor to Chinese President Xi Jinping’s visit to the US, set for late September. US Secretary of State Marco Rubio recently confirmed that the summit is on track despite President Donald Trump recently accusing China of meddling in US elections.
Under an agreement made after a May meeting between Trump and Xi, Beijing agreed to resolve Washington’s concerns about supply chain deficits for rare earths and other essential minerals. The agreement also mandates that China address restrictions on the sale of production equipment and processing technologies for these materials.
Additionally, Beijing committed to purchasing at least $17 billion annually in US agricultural products through 2028 in addition to earlier pledges.
