US and Chinese economic leaders meet in Paris ahead of Trump-Xi summit

PARIS: Senior economic officials from the United States and China began a new round of discussions in Paris on Sunday, aiming to address ongoing trade issues and prepare for an upcoming summit between US President Donald Trump and Chinese President Xi Jinping, scheduled for the end of March in Beijing.

The talks are being led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. According to a US Treasury official, the meetings started on Sunday morning at the headquarters of the Organisation for Economic Cooperation and Development (OECD) and are expected to continue into Monday.

The agenda for the discussions includes several key topics: the adjustment of US tariffs, the flow of Chinese-produced rare earth minerals and magnets to American buyers, US controls on high-tech exports, and Chinese purchases of US agricultural products. These issues have been central to the ongoing trade negotiations between the two countries.

China, which is not a member of the OECD—a group comprising 38 primarily wealthy democracies—considers itself a developing nation. The choice of Paris as the venue reflects the neutral ground provided by the OECD headquarters, even though China is not part of the organization.

Before departing for Paris, US Trade Representative Jamieson Greer stated that US officials are seeking to ensure stability in the trade relationship. The talks are seen as a critical step in smoothing over differences and ensuring a productive meeting between the two presidents later this month.

The outcome of these discussions is expected to play a significant role in shaping the agenda and tone of the Trump-Xi summit, with both sides aiming to resolve lingering disputes and promote economic cooperation.