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US-China Trade Talks Yield Stable Progress in Paris
16 Mar
Summary
- US and Chinese economic officials held stable talks in Paris.
- Discussions focused on agriculture, critical minerals, and managed trade.
- Potential trade deliverables were discussed for a Trump-Xi meeting.
U.S. and Chinese economic leaders convened in Paris on Sunday for talks that were characterized as "remarkably stable." The discussions, led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, explored avenues for potential agreement in key sectors including agriculture and critical minerals. These engagements were designed to identify possible "deliverables" for an upcoming meeting between President Trump and President Xi in Beijing.
The Chinese delegation expressed a willingness to consider increased purchases of U.S. agricultural products, such as poultry and beef, while reaffirming their commitment to buying 25 million metric tons of American soybeans annually for the next three years. Discussions also included the establishment of formal mechanisms to manage trade and investment, with proposals like a "Board of Trade" and "Board of Investment" potentially on the table for the leaders.
Critical minerals were another significant focus, with discussions aimed at easing trade flows and addressing U.S. concerns regarding access to vital resources like yttrium used in aerospace. Both sides sought to "loosen up" challenging areas within this sector. Additionally, U.S. officials reiterated the desire for China to increase purchases of Boeing jetliners and U.S. energy resources like coal, oil, and natural gas.
