President Trump's recent visit to Beijing produced no sweeping reset in US-China relations, but both sides confirmed plans for new institutions to manage economic ties, reports Tokyo's Institute of Geoeconomics.

The summit outlined a US-China Board of Trade and a Board of Investment, described by the White House as the 'cornerstone' of the agreement. China referred to them more cautiously as 'councils', saying they would help address trade and investment concerns. Their mandate and authority remain unclear.

The Board of Trade emerged from talks in South Korea and Paris, aiming to manage non-sensitive goods such as farm products and aircraft, while excluding advanced chips and military-related technologies. Rather than broad liberalization, it seeks to preserve parts of trade under strategic rivalry.

US Treasury Secretary Scott Bessent also confirmed plans for a Board of Investment to govern capital flows. It would allow Chinese investment in non-sensitive sectors but restrict it in areas tied to national security, data, or infrastructure. The mechanism reflects Trump's wider use of investment pledges in economic diplomacy.

Together, the Boards highlight a shift from WTO universalism toward selective, politically managed interdependence. They signal that Washington and Beijing are not pursuing full decoupling but are instead seeking to stabilize parts of their economic relationship while protecting strategic interests.

Analysts caution that defining 'non-sensitive' sectors will be politically contested, and the councils may struggle to function effectively. For now, they represent early instruments of managed interdependence - exchange without trust, commerce without convergence.