Bessent presses China on $17B farm purchase pledge in trade talks
The Treasury secretary demanded Beijing buy 25 million metric tons of US soybeans annually under the Busan pact, while China seeks tariff rollbacks on $60 billion in trade.
MOBy Mina Okoro, Supply chain editor··Updated November 7, 2026·3 min read
ShareLinkedInXWhatsAppEmailYellow gantry cranes stand over a docked container ship loaded with cargo at a bustling port terminal at dusk. (AI-generated image)
U.S. Treasury Secretary Scott Bessent pressed Chinese Vice Premier He Lifeng on Nov. 7 to honor terms of the bilateral Busan trade pact ahead of a planned presidential summit.
The accord, signed in South Korea last year, capped U.S. tariffs on Chinese imports at 20%. In return, Beijing committed to buy $17 billion of American agricultural goods each year.
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Supply chain editor — Mina Okoro builds the impact maps that connect East Asian developments to buyers in North America and Europe, and edits the Asia Compare desk.
