Post by : Shakul

Senior economic officials from the United States and China held extensive negotiations in Paris aimed at preparing possible trade agreements that could be finalized during a future summit between U.S. President Donald Trump and Chinese President Xi Jinping.

The talks, hosted at the headquarters of the Organisation for Economic Co‑operation and Development, lasted more than six hours and focused on agriculture purchases, critical minerals supply and a potential managed trade framework between the two largest economies in the world.

The U.S. delegation was led by Treasury Secretary Scott Bessent, while the Chinese team was headed by Vice Premier He Lifeng. Officials described the discussions as stable and constructive, raising hopes that concrete agreements could be prepared ahead of a potential meeting between the two leaders.

Sources familiar with the negotiations said China showed openness to increasing imports of American agricultural products including poultry, beef and certain grain crops. Beijing also reaffirmed its earlier commitment to purchase about 25 million metric tons of U.S. soybeans annually over the next three years under a trade truce reached in late 2025.

Another key topic discussed was the creation of a new institutional framework to manage economic relations between the two countries. Officials proposed forming a “Board of Trade” to help identify sectors where bilateral trade could grow while avoiding risks to national security or supply chains.

A separate “Board of Investment” was also discussed to address specific investment disputes and improve transparency between the two economies.

Negotiators also addressed concerns related to critical minerals used in advanced manufacturing and aerospace technology. U.S. officials raised the issue of access to rare earth materials produced in China, including yttrium, which is essential for jet engine components and other high-tech applications.

The talks come at a time of fragile global economic conditions and ongoing geopolitical tensions. Analysts say any progress in economic cooperation between Washington and Beijing could help stabilize markets and restore confidence in international trade.

However, President Trump indicated in a recent interview that the planned summit with Xi could still be delayed depending on geopolitical developments, including tensions surrounding the Strait of Hormuz.

Despite uncertainties, diplomats believe continued negotiations between the two nations could pave the way for several agreements throughout the year, including meetings at major international gatherings such as the Asia-Pacific Economic Cooperation summit and the Group of Twenty summit.

Experts say even limited agreements on trade and supply chains could mark an important step toward stabilizing relations between the world’s two largest economies.

#world news #Global News #Politics