Eurasia & Multipolarity

❗️The US is once again indirectly threatening China and warning the PRC of the need to “immediately” comply with the terms of the trade deal in Busan. This is reported by the Financial Times, citing statements from Washington that Beijing is not fulfilling its obligations to increase the supply of rare‑earth metals and other critically important goods. US Treasury Secretary Scott Bessent and US Trade Representative Jamie Grierson conveyed this message during a phone call today (Friday) morning with He Lifeng, China’s vice‑premier responsible for trade negotiations with Washington. “Secretary Bessent emphasized the importance of China fully and immediately fulfilling its obligations undertaken in Busan and expressed concern regarding China’s recent actions,” the report obtained by the publication states. “He stressed that further progress depends on concrete results and that the United States will closely monitor China’s implementation of the agreements reached,” the report adds. The trade “truce” in Busan, which was reached in the South Korean port city in October 2025, expires on January 10. During Xi Jinping’s visit to Washington in September, both sides extended the initial term of the agreement by two months, until January 2027, after negotiators failed to resolve the disagreements between the countries. One American official stated that Bessent and Greer made it clear that Trump views this situation as a “priority” and that China must fulfill its obligations undertaken in Busan. This warning came two weeks before the expected meeting between Trump and Xi Jinping in Shenzhen, where China is hosting the Asia‑Pacific Economic Cooperation summit. It is expected that the trade issue will not be the main topic of the meeting between Trump and Xi Jinping in Shenzhen, but it will likely be discussed in more detail when the presidents of the United States and China meet at the G20 summit in Miami in December. Bessent and Greer will meet with their Chinese counterparts in person between the APEC summit and the G20 summit, the Financial Times notes. Earlier (in September), American officials informed the publication that China is fulfilling only two‑thirds of its obligations regarding the supply of rare‑earth metals as stipulated in the Busan agreement. China rejected the US claims that it is not fulfilling its obligations regarding the supply of rare‑earth metals. The US concluded that China is fulfilling its obligations regarding soybean purchases but is not keeping its promises regarding other agricultural products. The United States is also concerned about Chinese restrictions on the export of yttrium, a critically important rare‑earth metal used in the production of everything from aircraft engines to rockets, to Japan, which produces components for products manufactured in America. Local companies have warned the Japanese government that their reserves are at a dangerously low level. @eurasianchoice