US Presses China to Deliver on Trade Deal Ahead of Trump-Xi Meetings
The United States told China on November 6, 2026 to carry out its trade deal promises right away, especially on farm purchases and rare earth minerals. The message came in a video call between top US trade officials and Chinese Vice Premier He Lifeng, just before two planned meetings between President Donald Trump and Chinese President Xi Jinping.
What happened
US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer spoke with He Lifeng by video on Friday, November 6, 2026. Bessent said China should fully and immediately carry out the commitments it made in Busan, South Korea, in October 2025, and he raised concerns about recent Chinese actions, according to a Treasury readout. Greer stressed that China must take concrete action on farm purchases, rare earths and other critical minerals, according to the US Trade Representative’s office. Reuters reported the call on November 7, 2026.
China pushed back. He Lifeng raised serious concern about recent US trade restrictions, according to Chinese state media, and both sides agreed to keep talking.
The deal at the center of the call is the Busan trade agreement. It caps US tariffs on Chinese goods at about 20 percent. Under it, China pledged to buy 25 million metric tons of US soybeans over three years and to raise other US farm purchases by 17 billion dollars. The deal runs until January 10, 2027.
A separate 60 billion dollar package of reciprocal tariff cuts, discussed after a September summit between Trump and Xi, has not been finalized. A day earlier, China’s commerce ministry said it would buy more US farm goods only if both sides carry out a 30 billion dollar for 30 billion dollar tariff cut arrangement. Read more: China Ties US Farm Purchases to Tariff Cuts in $30 Billion Deal
Trump and Xi are expected to meet at the APEC summit in Shenzhen on November 18 and 19, and at the G20 summit in Miami on December 14 and 15. Tariff exclusions for some Chinese products expire on November 10, which adds pressure to the talks.
Why it matters for beginners
Rare earths are minerals used in phones, electric cars, wind turbines and defense equipment. If supply is cut off, prices can rise and factories can slow down. China supplies most of the world’s processed rare earths, so its export rules matter far beyond China.
Farm exports matter to US farmers. Soybeans are one of the biggest US farm exports to China, and steady buying supports farm income. When China falls behind on farm purchases, farmers feel it first.
Tariffs act like a tax on imported goods. When tariffs stay high, importers often pass the cost to buyers, so prices can rise for everyday goods. A deal that holds can keep costs steadier, while a breakdown can push prices up.
Two leader meetings in the next five weeks give both sides a deadline to show progress, so markets will watch every statement closely.
What to watch next
Watch the APEC meeting in Shenzhen on November 18 and 19, and whether trade takes a bigger role than expected. Watch the G20 summit in Miami on December 14 and 15. Watch whether tariff exclusions expiring on November 10 are extended. Watch for any sign that China is buying more US farm goods or easing rare earth export curbs. Watch for any new US tariff or export restriction, and China’s response.
FAQ
What is the Busan trade deal?
It is the trade agreement Trump and Xi reached in Busan, South Korea, in October 2025. It capped US tariffs on Chinese goods at about 20 percent, and China promised farm purchases and steady rare earth supplies. The deal runs until January 10, 2027.
What are rare earths?
They are a group of minerals used in electronics, electric vehicles, clean energy and defense products. China supplies most of the world’s processed rare earths, so a change in its export rules can affect prices and supply around the world.
Why does this matter for beginners?
Trade fights can move prices, jobs and markets. When the two biggest economies argue over tariffs and minerals, the effects can reach food prices, factory costs and stock markets. A deal that holds can keep costs steadier.
When do Trump and Xi meet next?
They are expected to meet at the APEC summit in Shenzhen on November 18 and 19, 2026, and at the G20 summit in Miami on December 14 and 15, 2026.
Does this mean tariffs will fall?
Not yet. The US and China have talked about a 60 billion dollar package of reciprocal tariff cuts, but it has not been finalized. The two leader meetings in November and December are the next chances to move it forward.
Sources
Reuters, “US urges China to meet rare earths, agriculture commitments ahead of Trump-Xi meetings”, November 7, 2026: https://www.devdiscourse.com/article/international/4003049-us-urges-china-to-meet-rare-earths-agriculture-commitments-ahead-of-trump-xi-meetings
The Epoch Times, “US Tells China to ‘Immediately’ Meet Trade Commitment Ahead of Trump-Xi Meeting”, November 6, 2026: https://www.thethinkingconservative.com/us-tells-china-to-immediately-meet-trade-commitment-ahead-of-trump-xi-meeting/
This article is for general information and education only. It is not legal or financial advice.
