US-China trade talks: what to expect as senior officials meet in Paris

Senior US and Chinese officials are convening in Paris this weekend to lay the groundwork for a critical summit between Presidents Donald Trump and Xi Jinping later this month. US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng are expected to discuss potential deals on tariffs, investment, and specific commodities like soybeans and rare earths. The goal is to craft tangible "deliverables" that can be presented as achievements at the upcoming leaders' meeting in Beijing, though analysts are downplaying expectations for any major breakthroughs from the Paris session.

Both Washington and Beijing have strong domestic reasons to maintain the current "trade truce." The US administration is focused on the November midterm elections, seeking a stable economic narrative and a potential major deal with China. Meanwhile, China requires a calm international economic environment as it addresses significant internal challenges. As noted by analyst Philippe Le Corre, "China wants to make sure tariffs don’t go up again and Trump wants to achieve some kind of G2 deal with China’s Xi this year before the midterm elections." The talks represent a strategic effort to manage tensions and secure short-term stability in the crucial US-China economic relationship.