Bessent He Lifeng Davos Trade Talks 2026: Soybeans and Rare Earths Progress
US Treasury Secretary Scott Bessent and China's He Lifeng confirm trade progress at Davos 2026, focusing on 25 million tons of soybean purchases and rare earth supply.
The tariffs might exceed 100%, but the dialogue remains open. US Treasury Secretary Scott Bessent met his Chinese counterpart, Vice-Premier He Lifeng, in Davos on January 19, 2026. The meeting signals a significant cooling of tensions between the world's two largest economies, as both sides focus on fulfilling trade promises.
Bessent He Lifeng Davos Trade Talks 2026: By the Numbers
During an interview on the main stage of the World Economic Forum, Bessent noted that China has "done everything that they said they’re going to do." A primary focus of the discussion was agricultural exports. China is reportedly on track to purchase 25 million tons of US soybeans in the coming year. Additionally, Bessent expressed satisfaction with the flow of rare earth magnets, a critical component in the global tech supply chain.
They’ve done everything that they said they’re going to do... President Donald Trump always brings that [soybean purchases] up with Chinese President Xi Jinping when they meet.
The Long Road from Geneva to the Swiss Alps
The Davos meeting is the latest chapter in a diplomatic marathon that began in May 2025. Despite the aggressive tariff environment, both nations have maintained a series of technical-level discussions across the globe to prevent a total decoupling of their economies.
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