Washington Urges Beijing to Fulfill Minerals and Purchase Pledges Ahead of Trump-Xi Meeting in November

Key Facts

U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, in a call with Chinese Vice Premier He Lifeng on November 6, urged Beijing to immediately fulfill commitments under a trade agreement reached nearly a year ago. The U.S. Treasury Department said the commitments include deliveries of rare earths and other critical minerals and purchases of U.S. agricultural products. A statement from the Office of the U.S. Trade Representative quoted Greer as stressing the importance of China taking "concrete actions" to fully carry out its previous pledges. The call put fulfillment of those pledges at the forefront of trade talks ahead of expected meetings between Presidents Donald Trump and Xi Jinping. Beijing, for its part, said the two sides exchanged candid, in-depth and constructive views on economic and trade issues.

China's Ministry of Commerce said He Lifeng, Bessent and Greer discussed implementing the important understandings reached by the two countries' leaders and the outcomes of trade consultations. China expressed serious concern over recent U.S. trade restrictions, the ministry added, highlighting that differences remain alongside shared commitments. The two sides agreed, according to the Chinese statement, to continue using the trade consultation mechanism to strengthen cooperation and properly manage differences. The call thus combined Washington's demand for concrete steps with Beijing's call for continued dialogue. The Chinese statement gave no details on specific steps to fulfill the minerals or agricultural purchase commitments.

The agricultural pledges cited by Reuters include China's commitment to buy 25 million metric tons of U.S. soybeans annually during the three years following the agreement. Beijing also pledged to increase purchases of other U.S. agricultural goods by $17 billion. These figures show the scale of the commitments being followed up by the Office of the U.S. Trade Representative in its call with He Lifeng. Greer, in turn, stressed the need to turn previous pledges into concrete actions, Reuters quoted the U.S. office as saying. The issue also includes the flow of rare earths and other critical minerals, a point at the heart of the U.S. warning.

The demand concerning minerals comes against the backdrop of Chinese export restrictions announced by the Ministry of Commerce on October 9, 2025, on certain materials related to rare earth elements that contain Chinese components. The ministry said at the time that the measures were based on Chinese laws and export control regulations. In April 2026, the ministry announced that those measures would remain suspended until November 10, 2026, while the two sides continued communicating through the trade consultation mechanism. That date falls four days after Bessent and Greer's call with He Lifeng, keeping the restrictions within the immediate timeframe of the talks. A U.S. Trade Representative document had said that the inability to obtain shipments of rare earth element magnets and other materials from Chinese suppliers caused temporary shutdowns at factories in the United States and other countries during 2025.

In May 2026, a White House fact sheet said China would address Washington's concerns about shortages of supplies linked to rare earths and other critical minerals, naming yttrium, scandium, neodymium and indium. The United States, according to a U.S. fact sheet on the trade understanding announced in November 2025, continued to impose an additional 10% reciprocal tariff on Chinese imports during the suspension of higher tariffs, which was set to run through November 10, 2026. In September 2026, the Office of the U.S. Trade Representative said the U.S.-China Trade Council had recommended that the two sides consider better tariff treatment in the future for $30 billion worth of non-sensitive goods traded by each side. These issues provide background to broader talks on trade cooperation and managing differences. Sources do not directly link these items to the outcome of the latest call.

U.S. trade data for September showed the goods and services deficit at $105.0 billion, down $0.7 billion from a revised $105.7 billion in August. The data were released on November 4, two days before the call, but cover September performance and do not represent an outcome of the U.S.-China conversation. U.S. exports rose 1.9% to $321.5 billion in September, while imports increased 1.2% to $426.6 billion, a record high, according to Reuters. The deficit was below the $108.0 billion economists polled by Reuters had expected. The figures provide context for U.S. trade flows, while the call focused on commitments under the trade agreement with China.

Trump and Xi are expected to meet on the sidelines of the Asia-Pacific Economic Cooperation summit in Shenzhen on November 18 and 19. They are also expected to meet again at the Group of 20 summit in Miami on December 14 and 15. The APEC summit is scheduled for less than two weeks after the call, while the G20 summit is due the following month. In Chinese data, the National Bureau of Statistics calendar sets November 9 as the release date for the monthly industrial producer price index report, at 9:30 a.m. local time. These dates provide near-term milestones for tracking trade developments and economic data, while Beijing said the two sides would continue consultations to strengthen cooperation and manage differences.