Arya News - US Secretary of the Treasury Scott Bessent said Friday that he held a constructive phone call with Chinese Vice Premier He Lifeng and discussed the implementation of a bilateral trade deal between the economic giants.
"During today’s constructive call with Vice Premier He Lifeng, US Trade Representative Jamieson Greer and I discussed the ongoing implementation of the Busan arrangement between President [Donald] Trump and President Xi [Jinping], which is going well. I also reaffirmed the United States’ commitment to continued engagement with China," Bessent wrote in an X post.At a meeting in Busan, South Korea in late October, Presidents Trump and Xi agreed to de-escalate the US-China trade war, with the US side cutting tariffs by 10-20%, and China agreeing to suspend its retaliatory rare earth export controls and port fees.