US-China trade and investment talks are continuing in Paris to prepare proposals for future economic cooperation between the world's two largest economies. However, a planned summit between Presidents Donald Trump and Xi Jinping may be postponed due to war with Iran, US Treasury Secretary Scott Besant said, quoted by Reuters.
Besant and Chinese Vice Premier He Lifen are leading two days of talks in the French capital aimed at preparing a meeting between the two leaders, scheduled for March 31 - April 2 in Beijing.
In an interview with CNBC, Besant described the talks as “very good” and pointed out that they are taking place on the basis of a “stable relationship“ between the two countries.
At the same time, he did not rule out the possibility of the summit being postponed. President Trump said in an interview with the “Financial Times“ published on Sunday that he may postpone his trip to China because he is insisting that Beijing help unblock the strategic Strait of Hormuz, which is closed by Iran.
According to Besant, any delay would not be due to trade disagreements. "The president wants to stay in Washington to coordinate the military effort, and traveling abroad at a time like this may not be optimal," he said.
Trade talks
The U.S. and Chinese delegations resumed talks at the headquarters of the Organization for Economic Cooperation and Development (OECD) in Paris.
During the meetings, China expressed a willingness to increase purchases of U.S. agricultural goods, including poultry, beef and a range of crops other than soybeans, a source familiar with the talks said.
China also remains committed to an agreement to buy about 25 million tons of U.S. soybeans annually over the next three years under the October 2025 trade truce between Trump and Xi, the source added.
Speakers at the U.S. Treasury Department and the Office of the U.S. Trade Representative declined to comment on the progress of the talks.
Meanwhile, China's Ministry of Commerce criticized a US investigation into alleged forced labor and called on Washington to "correct its mistakes."
China's official news agency Xinhua said "significant progress" had been made. in economic cooperation between the United States and China could restore confidence in an increasingly fragile global economy. of yttrium - a rare earth element used in jet engine turbines and other high-tech applications that is important to the US aerospace industry.
According to the source, the two countries have found ways to ease some of the tension in this area, without disclosing details.
US officials have also expressed a desire for China to increase purchases of Boeing aircraft, as well as US coal, oil and natural gas.
According to trade analysts, however, the possibilities for a significant breakthrough in the short term remain limited, as Washington's attention is focused on the conflict with Iran.
Former US trade negotiator Wendy Cutler commented that any agreements could be implemented gradually throughout the year, as several more meetings between the leaders of the two countries are expected, including during the APEC summit and the G-20 forum.