The US and China are reviewing their trade truce in Paris amid trade war tensions
A new round of economic talks between the United States and China has begun in the French capital, Paris, to review developments in the trade truce between the two countries, at a time when energy markets are experiencing escalating tensions as a result of the closure of the Strait of Hormuz within the context of the ongoing Iranian war in the region.
The US delegation is led by Treasury Secretary Scott Bisent and Trade Representative Jamison Greer, while the Chinese delegation is headed by Vice Premier He Lifeng. The talks focus on a number of economic issues, most notably the amendment of US tariffs, the flow of rare earth minerals and magnets produced by China into US markets, in addition to US restrictions on the export of advanced technology, and China’s purchases of US agricultural products.
The meetings are being held at the headquarters of the Organisation for Economic Co-operation and Development in Paris, where the two sides are reviewing progress in implementing the commitments contained in the trade truce announced in October 2025 in Busan, South Korea, during a meeting between US President Donald Trump and his Chinese counterpart Xi Jinping.
The agreement helped avert a major escalation in trade tensions between the two countries, as Washington reduced tariffs on Chinese imports, and Beijing suspended for a year the strict restrictions it had imposed on rare earth exports.
The expansion of the US blacklist of Chinese companies prohibited from purchasing advanced technologies, particularly semiconductor manufacturing equipment, has also been frozen.
In return, China agreed to increase its purchases of American agricultural products, pledging to buy 12 million metric tons of soybeans during 2025, and 25 million tons during the 2026 season, which begins with the autumn harvest.
US officials, including Bisent, confirmed that China has so far adhered to its commitments under the Busan agreement, noting that soybean purchases have met the initial targets agreed upon by both sides.
A new round of economic talks between the United States and China has begun in the French capital, Paris, to review developments in the trade truce between the two countries, at a time when energy markets are experiencing rising tensions due to the closure of the Strait of Hormuz amid the ongoing Iranian war in the region.
The American delegation is led by Treasury Secretary Scott Pientka and Trade Representative Jamison Greer, while the Chinese delegation is headed by Vice Premier He Lifeng. The discussions focus on several economic issues, most notably the adjustment of US tariffs, the flow of rare earth metals and magnets produced by China to US markets, as well as US restrictions on the export of advanced technology and China's purchases of US agricultural products.
The meetings are held at the headquarters of the Organization for Economic Cooperation and Development in Paris, where both sides review the progress made in implementing the commitments outlined in the trade truce announced in October 2025 in Busan, South Korea, during a meeting between US President Donald Trump and Chinese President Xi Jinping.
The agreement has helped avoid a significant escalation in trade tensions between the two countries, as Washington reduced tariffs on Chinese imports, while Beijing suspended for a year the strict restrictions imposed on the export of rare earth metals.
The expansion of the US blacklist of Chinese companies banned from purchasing advanced technologies, particularly semiconductor manufacturing equipment, has also been frozen.
In return, China agreed to increase its purchases of US agricultural products, committing to buy 12 million metric tons of soybeans during 2025 and 25 million tons during the 2026 season, which begins with the fall harvest.
US officials, including Pientka, have confirmed that China has so far adhered to its commitments under the Busan agreement, noting that soybean purchases have met the initial targets agreed upon by both sides.
