U.S.-China Trade Talks Set for Paris Meeting
U.S. Treasury Secretary Scott Bessent is scheduled to meet Chinese Vice Premier He Lifeng in Paris this Sunday and Monday to discuss trade matters, according to an announcement from the Treasury Department on Thursday. This meeting seems to be a precursor to President Donald Trump’s upcoming state visit to Beijing, which begins on March 31.
China has not officially confirmed the discussions between Bessent and He, but they are perceived as a step towards preparing for the presidential visit.
The White House conveyed that Trump is making the trip to engage with Chinese President Xi Jinping, aiming to stabilize the often tense relationship between the two leading economies.
Bessent remarked, “Thanks to the bond of mutual respect between President Trump and President Xi, the U.S.-China trade and economic dialogue is moving forward.” He emphasized that the administration, under Trump’s leadership, would prioritize the interests of American farmers, workers, and businesses.
This visit marks Trump’s first trip to China since his initial term started in 2017. It has been about five months since the two leaders last met in Busan, South Korea, where they agreed to a temporary pause in their trade dispute, which previously saw tariffs significantly escalate. Since then, relations have become more strained.
As Bessent meets with He, industry leaders and analysts will be attentively observing for indications of potential agreements, especially regarding whether China plans to increase purchases of U.S. products like soybeans and aircraft. They are also keen to understand how both countries might address ongoing trade imbalances.
Recently, Chinese Foreign Minister Wang Yi mentioned that this year could hold significant importance for U.S.-China relations. While he declined to confirm the specifics of the upcoming state visit, he noted, “The topic of high-level exchanges is already on the table.”
Wang further advised both nations to prepare thoughtfully, create a suitable environment, and manage risks to avoid unnecessary misunderstandings.
Since last year, Bessent and He have been at the forefront of trade negotiations, holding several meetings in cities such as Geneva, London, Stockholm, Madrid, and Kuala Lumpur.
