U.S. Treasury Secretary Scott Bessent will meet Chinese Vice Premier He Lifeng in Paris from March 15 to March 16 to continue economic discussions between the two countries, the U.S. Treasury Department said on Thursday.

The meeting comes as Washington and Beijing prepare for a possible summit between U.S. President Donald Trump and Chinese President Xi Jinping later this month in Beijing.

Bessent said the discussions would focus on continuing the U.S.-China trade and economic dialogue. U.S. Trade Representative Jamieson Greer will also attend the meetings.

Focus On Trade Balance

Officials have given few details about the objectives of the talks, though recent statements suggest the United States is seeking a more balanced trading relationship with China.

Greer has said Washington wants to further reduce its trade deficit with Beijing, which has already fallen significantly in recent years.

The U.S. trade deficit with China dropped from $418 billion in 2018 to about $202 billion in 2025.

Tariffs And Trade Tensions

Trade tensions escalated after Trump imposed sweeping tariffs on Chinese imports, prompting retaliatory measures from Beijing and export restrictions on rare earth minerals.

Last year, the two sides negotiated a temporary trade truce that reduced tariffs and partially restored supplies of key materials used in high-tech manufacturing.

However, the situation remains uncertain after the U.S. Supreme Court ruled the emergency tariffs illegal and the United States introduced a new 10% tariff on global imports.

Preparing For Trump-Xi Summit

Analysts say the Paris meeting could help shape possible agreements ahead of the planned meeting between Trump and Xi.

Such talks often aim to identify potential outcomes that leaders can formally approve during high-level summits.

However, preparations for the meeting have been complicated by the ongoing war in Iran, making it unclear whether major agreements will emerge.

(with inputs from Reuters)