TREE NEWS update: US Treasury Secretary Bessent and US Trade Representative Greer spoke with Chinese Vice Premier He Lifeng, raising concerns over China’s recent actions and stressing that Beijing must fully and immediately implement commitments made in the agreement reached in Busan, South Korea, a year ago. Greer’s office said China must take concrete action, especially on agricultural purchases and rare earths and other critical minerals. Tariff exemptions on some Chinese goods expire November 10, and Washington has not said whether it will extend them.
US Officials Urge China to Honor Busan Trade Commitments in Call With He Lifeng
The call keeps the Busan bargain alive rhetorically while signaling Washington's patience is thinning, and the pairing of farm purchases with rare earths puts two very different supply chains under one compliance test. Rare earths are the RWA-relevant thread: any hint that critical-mineral flows are being used as leverage feeds straight into the strategic-materials thesis. The November 10 expiry is the real clock — whether the exemptions lapse or roll over will say more about the state of the truce than any readout from this call.
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