U.S., China Holding Talks on Agriculture, Rare Earths, Trade Ahead of Possible Trump-Xi Summit

Why It Matters

If formalized, expanded agricultural purchases and improved access to critical minerals would ease trade frictions, bolster U.S. export sectors and reduce supply-chain vulnerabilities for advanced manufacturers, while institutional mechanisms could provide a steadier framework for U.S.-China economic relations. The outcome also signals both sides’ willingness to negotiate ahead of high-level meetings, making progress here consequential for global markets and geopolitical dynamics.

Summary

Senior U.S. and Chinese officials concluded two days of technical talks in Paris aimed at nailing down preliminary trade agreements ahead of a possible summit between President Donald Trump and President Xi Jinping. Delegations led by U.S. Treasury Secretary Janet Yellen and China’s Vice Premier met to discuss increased Chinese purchases of U.S. agricultural goods — including poultry, beef and non-soy crops — and greater access to Chinese critical minerals such as yttrium used in U.S. manufacturing. Participants also explored institutional mechanisms to manage bilateral economic ties, including proposals for a U.S.-China Board of Trade and Board of Investment. The discussions are intended to produce proposals for leaders to consider at an anticipated late-March Beijing visit, though that trip could be delayed amid security and diplomatic tensions.

Original Description

미중고위급 무역협상 첫날 6시간 진행 농산물•희토류•무역 관리 메커니즘 논의

U.S. and Chinese officials are concluding two days of talks in Paris on Monday, seeking to reach possible trade agreements before their two leaders meet in Beijing later this month.The talks are part of efforts to stabilise economic relations between the world’s two largest economies.

Our Oh Soo-young has more.

Senior U.S. and Chinese officials are seeking to conclude preliminary talks on potential agreements on agriculture, critical minerals and new trade mechanisms.

Sources told Reuters on Monday, the negotiations could lead to proposals for U.S. President Donald Trump and Chinese President Xi Jinping to consider at their potential summit later this month.

Led by U.S. Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng, the delegations met for more than six hours on Sunday at the Paris headquarters of the Organisation for Economic Cooperation and Development.

During those talks, sources told Reuters that China signaled openness to buying more U.S. agricultural products --including poultry, beef and non-soybean crops.

The two sides also reportedly discussed access to Chinese critical minerals used in U.S. manufacturing, including yttrium --a rare earth element used in jet engine turbines.

U.S. officials have said Washington will prioritise discussing access to critical minerals and expanding Chinese purchases of American goods.

The technical discussions that are wrapping up on Monday are expected to focus on proposed structures to manage economic ties, including a possible U.S.-China “Board of Trade” and “Board of Investment.”

This comes ahead of an expected trip by Trump to Beijing from March 31st to April second.

But Trump told the Financial Times on Sunday that the visit could be delayed as Washington presses Beijing to help address tensions around the Strait of Hormuz amid the Iran conflict.

In any case, the two leaders are also expected to meet several times at multilateral forums this year, including at the Asia-Pacific Economic Cooperation leaders' meeting and the G20 Summit.

Oh Soo-young, Arirang News.

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2026-03-16, 12:00 (KST)