Backgrounder: What came out of five rounds of China-US economic and trade talks

A new round of China-US economic and trade talks is set to take place in Paris, France, marking the latest step in a series of negotiations aimed at stabilizing one of the world's most significant bilateral economic and trade relationships.

The upcoming talks, scheduled for March 14-17, follow five previous rounds held in Geneva, London, Stockholm, Madrid and Kuala Lumpur between May and late October 2025. Together, these meetings reflect a gradual effort by both sides to maintain communication channels and manage tensions.

Talks so far, guided by the consensus reached by the two heads of state last year, have yielded candid, in-depth and constructive exchanges of views on important economic and trade issues of mutual concern. These included but were not limited to the US Section 301 measures on China's maritime, logistics and shipbuilding sectors, the US extending the suspension of "reciprocal tariffs," fentanyl-related tariffs and law enforcement cooperation, trade in agricultural products, TikTok and export controls.

The first round of consultations took place in Geneva, Switzerland, in May 2025, with Chinese Vice Premier He Lifeng leading the Chinese delegation, while US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer heading the American team.

After two days of in-depth negotiations, the two sides issued a joint statement, established a regular consultation mechanism, and reached a key consensus to suspend the 24% "reciprocal tariffs" on Chinese goods for 90 days while canceling 91% of additional tariffs imposed previously.

The talks represented a crucial step toward resolving differences through equal dialogue and consultation.

The second round was held a month later in London, UK, with no changes to the lineup of either delegation. Building on the Geneva consensus, the two sides agreed to implement the important consensus established by the two heads of state during their phone call on June 5. They also agreed to implement a framework of measures consolidating the outcomes of the Geneva talks, and made new progress in addressing each other's economic and trade concerns.

Negotiations continued in Stockholm, Sweden, in late July 2025, in what analysts viewed as a more technical phase of the process. The meeting focused on specific sectors affected by tariffs and export restrictions.

Both sides agreed to a 90-day extension of a pause on "reciprocal tariffs" of 24% by the US side, as well as countermeasures by the Chinese side, further consolidating the progress achieved and preventing a relapse into trade friction.

The fourth round, held in Madrid, Spain, in September 2025, brought together senior trade delegations from both countries. The two sides held candid discussions on TikTok and related matters, reaching consensus on a basic framework for resolving the issue through cooperation, reducing investment barriers and promoting economic and trade ties.

The two sides also agreed to review and finalize documents outlining what they agreed upon and take them through their respective domestic processes for sign-off.

Regarding TikTok, China will handle the approval of technology exports in accordance with relevant laws and regulations, said Vice Premier He Lifeng, adding that the government fully respects the will of Chinese overseas enterprises and supports them in conducting business negotiations on an equal footing in accordance with market principles.

The fifth and most recent round, held in Kuala Lumpur, Malaysia, in late October 2025, marked a key milestone: the US side cancelled the 10% "fentanyl tariffs" and suspended, for an additional year, the 24% "reciprocal tariffs" levied on Chinese goods, including goods from the Hong Kong Special Administrative Region (SAR) and the Macao SAR.

Meanwhile, the US side agreed to suspend for one year the implementation of a new rule announced on September 29 that expands "entity-list" export restrictions to entities 50% or more owned by listed parties, and, also for one year, suspend the implementation of measures under its Section 301 investigation targeting China's maritime, logistics and shipbuilding industries.

In response, China agreed to suspend the implementation of relevant export control measures announced on October 9 for one year, and to correspondingly suspend the implementation of its countermeasures against the US side for one year once the US suspension takes effect.

Both sides further confirmed the outcomes of the Madrid economic and trade talks. The US side made positive commitments in areas such as investment, and China will properly resolve issues related to TikTok with the US side.

During rounds of talks, both sides agreed to make full use of the China-US economic and trade consultation mechanism, under the strategic guidance of the two heads of state, to maintain close communication on economic and trade matters, and promote the healthy, stable and sustainable development of economic and trade relations to benefit the two peoples and contribute to global prosperity.

Speaking on the upcoming talks, a spokesperson for China's Ministry of Commerce expressed hope on Friday that the US will work with China to uphold the consensus achieved between the two heads of state during their meeting in Busan and their phone conversation on February 4, 2026. China is looking forward to resolving respective concerns, properly managing differences, and safeguarding the healthy, stable and sustainable development of bilateral economic and trade ties on the basis of mutual respect and equal consultation, the spokesperson said.