The US is again indirectly threatening China and warning China of the need to comply "immediately" with the terms of the Busan trade agreement, the "Financial Times" reports, citing statements from Washington that Beijing is not fulfilling its commitments to increase supplies of rare earth metals and other critical products. US Treasury Secretary Scott Bassan and US Trade Representative Jamison Greer delivered the message in a phone call this morning (Friday) with He Leif, China's vice premier in charge of trade negotiations with Washington. "Minister Basan stressed the importance of China's full and immediate implementation of its commitments in Busan and expressed concern about China's recent actions," the statement read. "He emphasized that further progress depends on concrete results, and that the US will closely monitor the implementation of the agreements reached by China," the report added. The Busan trade freeze, reached in the South Korean port city in October 2025, expires on January 10. During Xi Jinping's visit to Washington in September, the two sides extended the original agreement by two months, until January 2027, after negotiations failed to resolve the differences between the countries. One US official said that Bennett and Greer made it clear that Trump saw the situation as a "priority" and that China must live up to its Busan commitments. The warning comes two weeks before an expected meeting between Trump and Xi Jinping in Shenzhen, where China is hosting the Asia-Pacific Economic Cooperation summit. The trade issue is not expected to be the main topic of the meeting between Trump and Xi Jinping in Shenzhen, but it is expected to be discussed in more detail when the presidents of the US and China meet at the G20 summit in Miami in December.

The US is again indirectly threatening China and warning China of the need to comply "immediately" with the terms of the Busan trade agreement, the "Financial Times" reports, citing statements from Washington that Beijing is not fulfilling its commitments to increase supplies of rare earth metals and other critical products. US Treasury Secretary Scott Bassan and US Trade Representative Jamison Greer delivered the message in a phone call this morning (Friday) with He Leif, China's vice premier in charge of trade negotiations with Washington. "Minister Basan stressed the importance of China's full and immediate implementation of its commitments in Busan and expressed concern about China's recent actions," the statement read. "He emphasized that further progress depends on concrete results, and that the US will closely monitor the implementation of the agreements reached by China," the report added. The Busan trade freeze, reached in the South Korean port city in October 2025, expires on January 10. During Xi Jinping's visit to Washington in September, the two sides extended the original agreement by two months, until January 2027, after negotiations failed to resolve the differences between the countries. One US official said that Bennett and Greer made it clear that Trump saw the situation as a "priority" and that China must live up to its Busan commitments. The warning comes two weeks before an expected meeting between Trump and Xi Jinping in Shenzhen, where China is hosting the Asia-Pacific Economic Cooperation summit. The trade issue is not expected to be the main topic of the meeting between Trump and Xi Jinping in Shenzhen, but it is expected to be discussed in more detail when the presidents of the US and China meet at the G20 summit in Miami in December.