economy
U.S. and China economic chiefs meet in Paris to clear path to Trump-Xi summit
Trade analysts said that with Washington's focus on the U.S.-Israeli war on Iran, prospects for a major trade breakthrough are limited.
TL;DR
- U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng led new trade talks in Paris.
- Key discussion points included U.S. tariffs, Chinese rare earth minerals, U.S. high-tech export controls, and Chinese agricultural purchases.
- Prospects for a major trade breakthrough are limited due to the short time frame and the U.S. focus on the U.S.-Israeli war on Iran.
- The talks aim to smooth the path for a potential meeting between President Trump and President Xi Jinping.
- New U.S. investigations into unfair trade practices and alleged forced labor could complicate negotiations.
- The meeting reviews progress on the October 2025 trade truce, with China reportedly meeting commitments on soybean purchases but not on rare earth exports for some industries.