US, China hold trade talks in Paris to clear path to Trump-Xi summit

"US Treasury Secretary Scott Bessent met Chinese Vice Premier He Lifeng on Sunday at the Paris headquarters of the Organisation for Economic Cooperation and Development to hash out trade issues between the world's two largest economies. The discussions are expected to focus on shifting US tariffs, the flow of Chinese-produced rare earth minerals and magnets to US buyers, the US's high-tech export controls and Chinese purchases of US agricultural products."

"China and the US fought a bruising trade war for much of 2025, with reciprocal tariffs reaching triple digits at one point and export restrictions threatening to wreck global supply chains for critical minerals. Tensions cooled after Trump met Xi in Busan, South Korea, in October, but new US probes into Chinese industrial overcapacity and forced labour announced on Wednesday threaten more instability."

"The Paris gathering, which is due to last two days, is seen as setting the stage for Trump's meeting with China's Xi. Washington has said Trump will visit China from March 31 to April 2, although Beijing has yet to confirm those dates in line with its usual practice."

US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng met in Paris to address trade tensions between the world's two largest economies. The discussions center on US tariff adjustments, Chinese rare earth mineral exports, high-tech export controls, and Chinese agricultural purchases from the US. Following a severe trade war in 2025 with triple-digit reciprocal tariffs, tensions temporarily eased after Trump and Xi met in South Korea in October. However, new US investigations into Chinese industrial overcapacity and forced labor threaten renewed instability. The Paris talks serve as preparation for Trump's anticipated visit to Beijing from March 31 to April 2, with potential for multiple Trump-Xi meetings throughout the year.

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