All eyes on China's steps in Busan agreement

US Treasury Secretary Scott Bessent urged China to fully and promptly honor its commitments under the Busan agreement, with agricultural purchases, rare earth elements and critical minerals dominating the talks. Washington said it will closely monitor implementation of the deal, keeping trade compliance at the center of the bilateral agenda. The push matters because delays in Chinese buying and export controls on strategic materials could reignite trade friction between the world's two largest economies. What to watch next is whether Beijing accelerates farm goods purchases and eases rare earth and critical mineral flows, and how Washington responds if commitments slip.