US Treasury chief Bessent presses China on trade deal in call with He Lifeng
The gist
US Treasury Secretary Scott Bessent and trade chief Jamieson Greer raised concerns with China's Vice Premier He Lifeng over Beijing's recent actions.
The call comes ahead of a planned Trump-Xi meeting in Shenzhen, with Washington tying progress to concrete results.
How it unfolded
- Oct 28, 2026The US Treasury proposes a rule to crack down on high-tech investments in China and other adversaries.
- Nov 4, 2026The Treasury alters its language on future auction sizes, a shift analysts expect will pave the way for larger auctions.
- Nov 6, 2026Bessent and Greer speak by phone with He Lifeng, raising concerns about Beijing's recent actions and urging full implementation of the Busan deal commitments.
Key terms
- US Treasury Secretary
- The head of the US Department of the Treasury and chief financial officer of the federal government, advising the president on economic and fiscal policy.
- US Trade Representative
- The cabinet-level official who heads the Office of the US Trade Representative and advises, negotiates, and speaks for the president on trade.
- Vice Premier
- A deputy leader of China's State Council who assists the premier in carrying out his duties.
Source: Wikipedia