US-China Officials Wrap Paris Trade Talks Ahead of Potential Trump-Xi Summit

Senior American and Chinese economic officials concluded negotiations in Paris Monday, focusing on agricultural trade, critical minerals access, and new trade management frameworks. The discussions could set the stage for a planned meeting between President Trump and Chinese President Xi Jinping later this month, though Trump has indicated the summit might be delayed.

Senior economic representatives from the United States and China finished their negotiations in Paris on Monday, working toward potential agreements on farming products, essential minerals, and trade oversight that could be presented during an anticipated meeting between President Donald Trump and Chinese leader Xi Jinping in Beijing, according to individuals with knowledge of the discussions.

These sources informed Reuters that the discussions, described as “remarkably stable,” were headed by Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. The negotiations would establish possible outcomes for Trump’s planned visit to China at the end of March for discussions with Xi.

However, the sources noted that final decisions on any proposals would rest with the two leaders.

In a Sunday interview with the Financial Times, Trump indicated he might postpone his meeting with Xi this month while pushing Beijing to assist in reopening the vital Strait of Hormuz, which Iran has blocked.

“We may delay,” Trump stated regarding the planned trip.

The American and Chinese teams conducted more than six hours of discussions on Sunday at the Paris headquarters of the Organisation for Economic Cooperation and Development, an organization of primarily wealthy democratic nations that does not include China as a member.

Throughout these negotiations, Chinese representatives demonstrated willingness to consider additional purchases of American farm products such as poultry, beef, and various row crops beyond soybeans, according to one source. The same source noted that China remains committed to purchasing 25 million metric tons of U.S. soybeans annually for the next three years under the Trump-Xi trade agreement from October 2025.

Representatives from the Treasury Department and the U.S. Trade Representative’s office refused to discuss the nature of the talks, while Chinese officials departed the negotiations on Sunday without addressing reporters.

China’s state-controlled Xinhua news agency commented on Sunday that “meaningful” advancement in U.S.-China economic collaboration could rebuild trust in an increasingly unstable global economy.

These Paris discussions follow multiple meetings throughout the previous year aimed at reducing tensions between Bessent, He, Trade Representative Jamieson Greer, and China’s primary trade negotiator Li Chenggang.

The two nations explored creating new official systems to oversee trade and investment between the world’s largest economies, which Trump and Xi may review in Beijing, sources revealed. Technical discussions regarding the proposed U.S.-China “Board of Trade” and “Board of Investment” were scheduled for Monday.

One source explained that the Board of Trade concept was more advanced and would focus on identifying products and industries where both countries could expand trade in a balanced manner without threatening national security or critical supply networks.

The Board of Investment would not establish broad investment strategies but would handle specific investment disputes that might emerge between the nations, the source added.

Sources also reported that American officials addressed the supply of Chinese-manufactured critical minerals to U.S. businesses and expressed concerns about limited access to yttrium from China, which is essential for jet engine turbines and other uses in the aerospace sector.

One source mentioned that both sides “found some ways to loosen up” more difficult aspects of critical minerals access, though specific details were not provided.

Prior to the talks, Greer told CNBC on Friday that the United States sought “to make sure that we continue to get the rare earths we need for our manufacturing base, that they keep buying the kinds of things they should be buying from us, and that the leaders have a chance to get together and make sure that the relationship is going the way we want it to go.”

Greer and Bessent also stressed during negotiations the American interest in having China increase purchases of Boeing aircraft and U.S. coal, oil, and natural gas, topics that could receive further attention on Monday, sources indicated.

However, with limited preparation time and Washington’s focus on the U.S.-Israeli conflict with Iran, trade experts suggested that significant trade advances were unlikely, either in Paris or during the Beijing summit.

“Given that the leaders may meet up to four times this year, these deliverables maybe can be spread out, rolled out over the year,” explained Wendy Cutler, a former U.S. trade negotiator who currently leads the Asia Society’s Washington policy center.

Potential future meetings include a possible Washington visit by Xi, a China-hosted APEC summit in November, and a U.S.-hosted G20 summit in December.