WASHINGTON – The U.S. Treasury Department announced on Thursday that Treasury Secretary Scott Bessent is scheduled to meet with Chinese Vice Premier He Lifeng in Paris this Sunday and Monday for a fresh round of trade negotiations. These discussions aim to set the stage for President Donald Trump’s upcoming state visit to China, beginning March 31.
While China has not yet officially announced the meeting between Vice Premier He and Secretary Bessent, it is anticipated to lay the groundwork for the forthcoming state visit, which Beijing has also yet to confirm. According to the White House, President Trump plans to meet with Chinese President Xi Jinping. Speculation suggests that this visit seeks to maintain stable relations between the two economic powerhouses.
“Thanks to the mutual respect shared by President Trump and President Xi, our trade and economic dialogue is progressing,” Bessent stated. “Under President Trump’s leadership, our team remains committed to achieving outcomes that prioritize America’s farmers, workers, and businesses.”
This trip marks President Trump’s first visit to China since his initial term in 2017. It follows five months after the leaders’ meeting in Busan, South Korea, where they agreed on a one-year ceasefire in the trade war, which had previously escalated to significant reciprocal tariffs before tensions eased.
The business community and analysts are closely monitoring the talks between Bessent and He, looking for insights into potential agreements during Trump’s meeting with Xi in Beijing. Key topics of interest include potential Chinese commitments to purchase more U.S. goods, such as soybeans and airplanes, and strategies for managing trade imbalances.
Recently, Chinese Foreign Minister Wang Yi described 2023 as a “big year” for China-U.S. relations. Although he did not confirm the state visit, Wang remarked that “the agenda of high-level exchange is already on the table.”
“What the two sides need to do now is to make thorough preparations accordingly, create a suitable environment, manage the risks that do exist and remove unnecessary disruptions,” Wang said.
Bessent and He have led trade negotiations between the two countries since last year, having met in Geneva, London, Stockholm, Madrid and Kuala Lumpur.
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