# China-U.S. Trade Chiefs Hold Video Call

> Washington urges Beijing to fully implement Busan trade agreement immediately.
- Title: China-U.S. Trade Chiefs Hold Video Call · BigGo Finance
- Summary: Washington urges Beijing to fully implement Busan trade agreement immediately. U.S.
- Keywords: busan agreement, china, us trade, rare earth exports, soybean purchases, tariff reduction, trade consultations, markets, BigGo Finance
- Source: BigGo Finance — https://finance.biggo.com/news/f1f86af0-4f9e-48f0-822a-0e760d1fd677
- Author: BigGo Finance
- Published: 2026-11-07T01:25:13+00:00
- Read time: 1 min
- Topics: busan agreement, china, us trade, rare earth exports, soybean purchases, tariff reduction, trade consultations, finance, markets
## Video Call Between Trade Chiefs
He Lifeng, China's vice premier, held video call with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer on evening of November 6, 2026, Beijing time.
## U.S. Demands Full Implementation
Washington urged China to implement Busan trade agreement commitments fully and immediately including soybean purchases and rare earth export controls.
## China Expresses Concerns
China raised serious concerns over recent U.S. trade restrictions on China during the call.
## Busan Agreement Details
Busan agreement requires China to buy U.S. soybeans through 2026 and 2028 while pausing new rare earth export controls.
## Implementation Sticking Point
The core dispute remains the scale of China's rare earth exports and licensing requirements.
## No Tariff Reduction Plan
The two sides have not reached final decision on mutual tariff reduction plan despite $60 billion agreement.
## Market Impact
China-U.S. trade relations likely to remain 'talking while fighting' with no near-term breakthrough.
## Key takeaway

U.S. Treasury and Trade officials demanded China implement October 2025 Busan trade agreement commitments fully and immediately after video call with Chinese officials.