"Economic Talks Proceed Separately from Geopolitical Crisis"
US President Donald Trump and Chinese President Xi Jinping are seen leaving the meeting room while talking after the US-China summit on October 30 last year at Naraemaru in the 5th Air Mobility Wing of Busan Air Force Base. Photo by Yonhap News.
Amid ongoing US attacks on Iran, major international media outlets have reported that preparations for a summit between US President Donald Trump and Chinese President Xi Jinping are still underway. Analysts suggest that trade negotiation teams from both countries will meet in mid-March to coordinate preparations for the summit.
On March 3 (local time), Bloomberg News, citing sources who requested anonymity, reported that US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are expected to meet in Paris, France, around mid-March to discuss possible issues for the summit. However, the news outlet noted that the time and location of the meeting may change.
Bloomberg News stated, "Matters that could be discussed at this meeting include the possibility of China purchasing Boeing aircraft, a commitment to buying US soybeans, and the Taiwan issue." The report also noted that "the future of US tariffs on fentanyl, which were dismissed by the US Supreme Court, may also be on the agenda." However, Bloomberg added that neither the US Treasury Department nor China's Ministry of Commerce has responded regarding whether the meeting will take place.
On the 25th of last month, President Trump's State of the Union address was being broadcast on the TV in the Seoul Station waiting area. Photo by Yonhap News
The South China Morning Post (SCMP) in Hong Kong also cited multiple sources, reporting that "as part of preparations for President Trump’s visit to China, working-level officials from both countries are discussing the resumption of mutual investment." However, the report added that "the specific structure of the investment or its potential scope has not yet been finalized."
One source told SCMP, "Both sides are interested in business models such as structured joint ventures (JVs) or licensing agreements that minimize political and regulatory risks, and do not heavily rely on intellectual property." The source cited as an example the 2023 case in which US automaker Ford introduced lithium iron phosphate battery technology from Chinese battery company Contemporary Amperex Technology Limited (CATL) into a US plant through a licensing agreement, suggesting this deal could serve as a model.
SCMP added, "Negotiation teams from both countries are expected to begin additional talks soon, during which more detailed investment plans may be discussed." However, the report also emphasized that "the uncertainty in US-China relations after the US military strikes on Iran should be taken into account."
Meanwhile, President Trump is scheduled to visit China from March 31 to April 2 to meet President Xi. This will mark the first visit to China by a US president since 2017.
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