US and Chinese officials held stable trade talks in Paris, discussing agriculture, minerals, and investment ahead of upcoming presidential meetings.
Top US and Chinese economic officials held 'remarkably stable' talks in Paris, reported Reuters. The discussions covered agriculture, critical minerals, and managed trade, with potential proposals for President Donald Trump and President Xi Jinping to consider in Beijing later this month.
US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng led the talks, which were described as candid and constructive. Sources indicated that China showed openness to additional purchases of US farm goods, including poultry, beef, and non-soybean crops, while reaffirming commitments to buy 25 million tonnes of soybeans annually for three years.
The two sides also discussed new mechanisms to manage trade and investment, including a proposed US-China 'Board of Trade' and 'Board of Investment.' The Board of Trade would focus on balanced trade growth without compromising national security or supply chains, while the Board of Investment would address specific investment issues.
US officials raised concerns about access to Chinese-produced critical minerals, including yttrium, which is used in jet engine turbines. Sources reported that some progress was made in easing restrictions. Washington also pressed for increased Chinese purchases of Boeing aircraft and US coal, oil, and natural gas.
The talks followed several meetings last year aimed at easing tensions. The US Treasury and Trade Representative declined to comment, but sources indicated that the discussions were intended to create stability ahead of Trump's planned visit to Beijing.
