On March 15, senior economic officials from the US and China are scheduled to hold a new round of dialogue in Paris to prepare for the meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing at the end of March.
The discussion was led by US Treasury Secretary Scott Bessent and Chinese Deputy Prime Minister Peter Ho, with the participation of US Trade Representative Jamieson Greer. The two sides are expected to meet at the headquarters of the Organization for Economic Cooperation and Development in Paris.
The main contents of the dialogue include adjusting US tariffs, the supply of rare earth and magnetic minerals produced by China to the US market, US high-tech export control measures, and China's purchase of agricultural products from the US.
The meeting is part of a series of contacts in many European cities last year to reduce trade tensions between the two largest economies in the world. Analysts believe that the possibility of a major trade breakthrough in this meeting is still limited as the preparation time is short and Washington is focusing on the Iran-related conflict.
Mr. Scott Kennedy, a Chinese economist at the Center for Strategic and International Studies in Washington, said that the minimum goal of the two sides is to maintain dialogue to avoid escalating tensions.
According to Scott Kennedy, Mr. Trump may want to achieve commitments from China to order more Boeing aircraft and increase imports of liquefied natural gas and soybeans from the US. In return, Washington may have to consider concessions in measures to control technology exports.
The two sides are also expected to assess the progress of implementing the trade truce agreement announced by the two leaders in Busan, South Korea in October 2025. The agreement helps reduce US tariffs on imports from China and temporarily suspend China's rare earth export control measures for a year.
According to the agreement, China agreed to buy 12 million tons of US soybeans in the 2025 crop year and 25 million tons in the 2026 crop year. US officials said China has fulfilled its initial commitments related to soybean purchases.
Tensions in the Middle East can also be mentioned in discussions. China receives about 45% of its oil through the Strait of Hormuz, in the context that the region is affected by conflict.
