US and China Officials Hold Frank Trade Talks Ahead of APEC Summit
US and China Officials Hold Frank Trade Talks Ahead of APEC Summit
Senior economic officials from the United States and China engaged in frank discussions on Friday, highlighting persistent tensions over trade implementation just days before the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen. While both sides agreed to manage differences, Washington emphasized concerns over Beijing's adherence to previous agreements, while China criticized recent US sanctions.
Senior economic officials from the United States and China held frank discussions on Friday, underscoring persistent tensions in their bilateral trade relationship just days before the Asia-Pacific Economic Cooperation (APEC) summit in Shenzhen. The talks occurred as both nations prepare for a potential high-level meeting between President Donald Trump and Chinese President Xi Jinping at the upcoming gathering.
US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer held a telephone conference with Chinese Vice Premier He Lifeng to review economic and trade commitments made over the past year. According to a statement released by the US Treasury Department, American officials stressed the importance of China fully and immediately implementing its obligations.
The United States highlighted "concerns about recent Chinese actions" and underscored that continued progress depends on concrete results. Bessent stated that Washington would closely assess Beijing's implementation of the arrangement, referencing commitments established during an October 2025 meeting between Presidents Trump and Xi in Busan, South Korea.
That Busan agreement, which followed a period of tariff escalations earlier in 2025, required China to purchase US soybeans through 2028. It also included provisions for China to suspend new export controls on rare earths and issue general licenses for the materials' export. The initial one-year accord was later extended through January 10, 2027, during Xi’s visit to the White House in September.
In response, Chinese Vice Premier He Lifeng expressed "serious concerns over recent economic and trade restrictive measures imposed by the United States," according to a report shared online by Beijing’s commerce ministry on Saturday. The ministry described the talks as "frank, in-depth and constructive" but did not specify which US measures were being criticized.
Trade experts have identified Chinese rare-earth exports as a primary source of friction. These materials are critical for the production of smartphones, automobiles, and military equipment, making export controls a significant point of leverage in the ongoing economic dialogue.
Both sides agreed during the call to "properly manage differences" and promote a stable US-China trade relationship. However, tensions remain evident in separate diplomatic exchanges. The Chinese commerce ministry reiterated Beijing’s firm opposition to new US sanctions targeting Cuba, which affected two Chinese companies.
An unnamed spokesperson for the ministry stated that Washington’s recent escalation of sanctions against China ran counter to the consensus reached by Trump and Xi. This diplomatic friction comes as China prepares to host the APEC gathering from November 18 to 19 in Shenzhen.
Beijing’s foreign ministry confirmed this week that it is in contact with Washington and Moscow regarding the possibility of a trilateral meeting involving Trump, Xi, and Russian President Vladimir Putin during the summit. The outcome of these preparations will likely influence the broader trajectory of US-China economic relations as they navigate the implementation of their extended trade ceasefire.
U.Contreras--GBA
