Beijing: Vice Premier of China, He Lifeng, engaged in a phone conversation with US Secretary of the Treasury, Scott Bessent, and US Trade Representative Jamieson Greer to address trade issues, focusing on efforts to implement an agreement aimed at de-escalating the trade tensions between the two countries. According to Qatar News Agency, Beijing authorities indicated that both parties agreed on the importance of promoting sustainable development in their bilateral trade and economic relations. They discussed the need to "expand the list of cooperation and reduce the list of problems," along with the subsequent steps required for implementing cooperation and addressing mutual concerns. Following the conversation, Bessent shared on the 'X' platform that the discussions centered around implementing the "Busan Agreement," which was endorsed by Presidents Donald Trump and Xi Jinping during their discussions in South Korea last October. As part of the agreement, the United States committed to reducing tariffs on Chinese goods, while China agreed to enforce strict measures against illicit fentanyl trade, resume purchases of US soybeans, and ensure the continued flow of strategic mineral exports. Bessent emphasized that the agreement's implementation "is progressing well," and reaffirmed the United States' dedication to ongoing cooperation with China. He also noted that China is on track to fulfill its commitments under the US-China trade agreement, including the planned purchase of 12 million tons of soybeans by the end of February 2026.