The economic leaders from the United States and China have commenced a new round of negotiations in Paris on Sunday (15) to iron out the remaining issues from their trade truce and prepare for the meeting between President Donald Trump and Chinese leader Xi Jinping set for late March. The discussions are currently being led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, focusing on the adjustment of US tariffs and the flow of rare earth minerals and magnets produced in China for US buyers.

In addition to tariffs, the agenda will also cover US high-tech export controls and China's agricultural purchases from the US. This meeting marks a significant step in efforts to ease trade tensions that have arisen between the two countries in recent years, particularly amidst ongoing debates on tariffs and trade balances. The US has been concerned about its trade deficit with China, which has prompted various rounds of negotiations in the past.

The negotiations are taking place at the headquarters of the Organization for Economic Co-operation and Development (OECD) in Paris and were planned to continue into Monday, according to a US Treasury official. Although China is not a member of the OECD, which consists of 38 democracies, this meeting underscores the importance of dialogue between the two largest economies in the world as they seek to find common ground on economic issues affecting both nations and the global economy.