Economic and trade negotiations between Beijing and Washington kicked off in Paris this Sunday, as reported by the Chinese state news agency, Xinhua. These high-stakes talks, headed by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, are widely seen as the groundwork for President Donald Trump’s anticipated state visit to Beijing to meet with Xi Jinping in roughly a fortnight. While the White House has earmarked March 31 to April 2 for the trip, official confirmation from the Chinese side is still pending.
On the eve of the meeting, Bessent reiterated his commitment to securing results that prioritise American workers and farmers. Meanwhile, China’s commerce ministry noted that the discussions would focus on "economic issues of mutual concern." This upcoming visit would mark Trump’s first presidential trip to China since 2017, following a significant meeting in Busan five months ago where both leaders agreed to a one-year truce. That agreement de-escalated a volatile trade war which had seen retaliatory tariffs spiral into triple digits.
Despite the recent cooling of tensions, trade remains a thorny issue. Just this Friday, Beijing hit back at the Trump administration’s new trade investigation into sixteen trading partners. This fresh inquiry follows a Supreme Court ruling that overturned last year’s sweeping global tariffs, potentially opening the door for a new round of levies.
Beyond trade, the escalating conflict in Iran is expected to weigh heavily on the agenda. Trump expressed his hope that nations including China, France, and the UK would deploy warships to ensure the Strait of Hormuz remains "open and safe." Gary Ng, a senior economist at Natixis, suggested that the Paris talks are arguably the most critical bilateral encounter before the leaders' summit. He noted that while Iran is a pressing new factor, Beijing remains deeply wary of what it perceives as "flip-flopping" in US policy.
Chinese Foreign Minister Wang Yi has recently suggested that it is to be a “big year” for relations, which has been confirmed by his assurance that a rich agenda is already being discussed. He and Bessent have become familiar faces on the opposite side of the negotiating table, having previously led rounds of talks in cities ranging from Geneva to Stockholm to Kuala Lumpur.
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