Paris: Senior economic officials from the United States and China met in Paris on Monday as both countries tried to finalise trade proposals that could pave the way for a summit between U.S. President Donald Trump and Chinese President Xi Jinping.
Officials from both sides said the talks were focused on preparing agreements that the two leaders could announce if they meet in Beijing later this month. The discussions are being led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, along with trade and economic officials from both governments.
One of the main areas of discussion is agriculture. China has signalled that it may expand purchases of American farm products, including soybeans, poultry and beef. Agricultural exports are a key concern for Washington, especially for farmers who depend heavily on access to the Chinese market. China has also indicated that it could continue buying around 25 million metric tons of U.S. soybeans each year under earlier trade arrangements.
Another important topic in the negotiations is the idea of a managed trade system between the two countries. Officials are discussing the creation of new institutions that could help manage economic disputes and guide trade flows. One proposal involves establishing a Board of Trade that would identify sectors where trade can expand without raising national security concerns. A second proposal suggests creating a Board of Investment to address investment disputes between companies and governments.
Critical minerals are also a sensitive issue in the talks. The United States wants more reliable access to certain minerals produced in China that are used in advanced manufacturing and aerospace technology. Materials such as yttrium are important for jet engines and other high technology equipment, making supply chains a strategic concern for both countries.
U.S. negotiators are also pressing China to increase purchases of American products such as aircraft and energy supplies. Greater imports of Boeing aircraft and U.S. fossil fuels could help reduce the large trade imbalance between the two economies.
Despite the constructive tone of the meetings, several political issues continue to complicate negotiations. The United States recently launched a trade investigation into Chinese industrial practices, which Beijing has strongly criticised. Differences also remain over tariffs, technology export restrictions and industrial subsidies.
Wider geopolitical tensions have added another layer of uncertainty to the talks. President Donald Trump has indicated that a possible summit with Xi Jinping could be delayed depending on China’s role in helping ease tensions in the Strait of Hormuz, a key global oil shipping route affected by recent conflict involving Iran.
The Paris discussions are part of a broader effort by both countries to stabilise relations between the world’s two largest economies. Analysts say any agreement could have a major impact on global trade, supply chains and commodity markets.
While negotiators appear to be making progress on several issues, officials say it remains unclear whether the talks will produce a comprehensive agreement before a meeting between the two leaders takes place.