Senior U.S. and Chinese officials are nearing the conclusion of economic talks in Paris that could lay the groundwork for new trade agreements between the world’s two largest economies. The negotiations, led by U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, have focused on areas such as agriculture, critical minerals, and new frameworks for managing bilateral trade. While any final commitments will likely be decided by U.S. President Donald Trump and Chinese President Xi Jinping during an anticipated summit in Beijing, the discussions represent a renewed attempt to stabilize economic relations at a time of geopolitical tension and global market uncertainty.

Paris Negotiations Aim to Build Momentum for Summit

Delegations from both countries met for more than six hours at the headquarters of the Organisation for Economic Cooperation and Development in Paris. Sources familiar with the discussions described the talks as “remarkably stable,” suggesting that both sides are attempting to find pragmatic areas of cooperation despite broader strategic rivalry.

The meetings are expected to produce potential policy “deliverables” that could be formally announced during the planned summit between Trump and Xi later this month. However, Trump indicated in a recent interview that the timing of the summit could shift as the United States presses China to play a role in easing disruptions to global shipping caused by the closure of the Strait of Hormuz amid the Middle East conflict.

Agriculture and Energy Trade Back on the Table

Agriculture has emerged as one of the most promising areas for renewed cooperation. Chinese negotiators reportedly signaled openness to increasing purchases of American agricultural products, including poultry, beef, and certain non-soybean crops. China also remains committed to buying approximately 25 million metric tons of U.S. soybeans annually over the next three years under a previous trade truce reached in 2025.

In addition to agricultural goods, U.S. officials are encouraging China to expand purchases of American energy products such as coal, oil, and liquefied natural gas. Increased commodity trade between the two countries could help reduce trade imbalances while supporting domestic industries in both economies.

New Mechanisms for Managing Trade and Investment

One of the most significant proposals discussed in Paris involves the creation of new formal mechanisms to manage trade and investment disputes. Officials from both sides explored the concept of a U.S.–China “Board of Trade” and a “Board of Investment.”

The Board of Trade would aim to identify sectors where bilateral trade could expand without compromising national security or supply chain resilience. Meanwhile, the Board of Investment would focus on resolving specific cross-border investment issues rather than setting broad policy frameworks. These mechanisms could provide a structured platform for ongoing economic dialogue between the two nations.

Critical Minerals and Strategic Supply Chains

Another key topic during the negotiations was access to critical minerals essential for high-tech manufacturing. U.S. officials raised concerns about supply chain vulnerabilities, particularly regarding rare earth materials such as yttrium, which are used in jet engine components and other advanced technologies.

While details remain limited, negotiators reportedly explored potential ways to ease tensions around mineral supply flows from China to U.S. companies. Ensuring access to these materials has become a priority for Washington as governments worldwide attempt to secure critical resources for emerging industries.

Global Economic Implications

The outcome of the Paris talks could influence global economic sentiment, especially as markets grapple with geopolitical tensions and trade uncertainty. Analysts note that meaningful progress in U.S.–China economic cooperation could help restore confidence in international trade flows and reduce volatility in global markets.

However, expectations for a sweeping trade breakthrough remain modest. With multiple leader-level meetings expected throughout the year—including potential summits in Washington, Beijing, and international forums—any agreements reached in Paris may represent only the first step in a longer process of rebuilding economic stability between the two powers.