“We covered numerous topics, including rare earth magnets, trade, significant purchases of American agricultural products, and assistance from the Chinese in addressing the U.S. fentanyl crisis,” Bessent stated in a CBS “Face the Nation” interview. He expressed belief that China will once again make substantial purchases of American soybeans.
Beijing described discussions with Bessent and Greer by Chinese Vice Premier He Lifeng and chief trade negotiator Li Chenggang as “candid, in-depth, and constructive,” according to a Chinese Commerce Ministry statement.
The dialogue included topics like the U.S. administration’s recent imposition of new port fees on Chinese cargo ships, extending the deadline to avoid reciprocal tariffs, export controls, and February’s fentanyl tariffs, the statement noted.
Li remarked on “current turbulences” and emphasized the importance of a stable China-U.S. trade relationship for both nations and globally, as reported by Bloomberg.
The Commerce Ministry indicated the talks built a foundation for Trump’s upcoming meeting with Xi in South Korea.
“They reached a basic agreement on addressing their concerns,” the statement said. “Both parties consented to refine specific details and finalize domestic approvals.”
Reporting contributed by Phelim Kine and Sophia Cai.
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