China, U.S. Tout ‘Constructive’ Talks As Tariff And Soybean Deal Advances

Senior U.S. and Chinese officials held a video call Friday to review progress on efforts to ease trade tensions, with both sides signaling cautious optimism. Chinese Vice Premier He Lifeng spoke with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer in what Beijing described as an “in-depth and constructive” exchange, according to Xinhua.

The officials agreed to strengthen economic ties, expand areas of cooperation, and reduce points of friction. They also reviewed the “Busan arrangement,” the deal Presidents Donald Trump and Xi Jinping approved in October.

During today’s constructive call with Vice Premier He Lifeng, @USTradeRep Greer and I discussed the ongoing implementation of the Busan arrangement between President Trump and President Xi, which is going well. I also reaffirmed the United States’ commitment to continued…

— Treasury Secretary Scott Bessent (@SecScottBessent) December 5, 2025

Under that pact, Washington pledged tariff relief in exchange for China cracking down on fentanyl production, resuming large-scale U.S. soybean purchases, and maintaining exports of rare earth minerals vital to U.S. industries.

Bessent said implementation is “going well,” adding that China is on track to complete its commitment to buy 12 million metric tons of soybeans by February 2026.

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