Top Chinese and US officials held a call on Friday to discuss trade, including ongoing efforts to implement an agreement to de-escalate their countries’ trade war.
Chinese Vice-Premier He Lifeng had an “in-depth and constructive” video call with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer, China’s official Xinhua news agency reported.
Both sides agreed to promote the stable development of bilateral trade and economic ties, and “expand the list for cooperation and shorten the list of problems”, according to Xinhua.
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Parties to the call “positively evaluated” the implementation of the outcomes of earlier trade talks, and discussed the next steps in carrying out cooperation and addressing each other’s concerns.
Bessent, in a social media post, said the officials discussed the implementation of the “Busan arrangement”, which presidents Donald Trump and Xi Jinping approved in October during face-to-face talks in the South Korean city.
‘We have a deal’: Trump claims breakthrough after ‘12 out of 10’ talks with Xi Jinping
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Under that agreement, the US agreed to trim tariffs on China in exchange for Beijing cracking down on the illicit fentanyl trade, resuming US soybean purchases and keeping rare earths exports flowing.