US and China Discuss 'Board of Trade' to Manage Trade Flows

Proposed mechanism aims to formalize trade commitments, but some experts warn it could interfere with market forces.

Mar. 22, 2026 at 8:43pm

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As Washington and Beijing consider creating a 'US-China Board of Trade' to help manage trade flows between the world's two largest economies, some analysts warn the approach could interfere with market forces, while others view it as a potential path to smoother economic coexistence. The board would aim to identify specific goods the US should export to and import from China, building on previous efforts like the 'Phase One' trade deal that set purchase commitments.

Why it matters

The proposed 'managed trade' approach represents a shift away from traditional free-market principles, prioritizing specific trade outcomes over open competition. While potentially offering a path toward stability in US-China trade relations, it raises concerns about market distortions and unintended consequences for other trading partners.

The details

According to US trade envoy Jamieson Greer, the 'Board of Trade' would help formalize and identify the types of goods the US should be exporting to and importing from China. Wendy Cutler of the Asia Society Policy Institute said the board could explore opportunities for expanding trade in non-sensitive products or discuss mutual tariff reductions in non-strategic sectors. Officials have reportedly made progress toward Chinese purchase commitments for US agriculture, energy, and aircraft.

  • The latest discussions about a 'Board of Trade' took place during talks between top US and Chinese economic officials in Paris last weekend.
  • The 'Phase One' trade deal signed during the previous Trump administration involved commitments from China to increase purchases of US products, though those commitments were not fully met.

The players

Jamieson Greer

A US trade envoy who stated that both the US and China discussed creating a 'US-China Board of Trade'.

Wendy Cutler

A former US trade official and current analyst at the Asia Society Policy Institute, who said the proposed board could explore opportunities for expanding trade in non-sensitive products or discuss mutual tariff reductions.

Chad Bown

An expert at the Peterson Institute for International Economics who described the 'managed trade' approach as focusing on outcomes rather than policies, similar to agreements made with Japan in the 1980s.

Joerg Wuttke

A partner at DGA-Albright Stonebridge Group who expressed concern that the 'managed trade' approach would be overly mechanized and interfere with market forces.

Anonymous US-based business leader

Raised concerns about how Washington would prioritize industries and determine which sectors would benefit from a managed trade approach.

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What they’re saying

“Instead of taking regulations out, tariffs down, and making it easier for customers and companies to decide what they sell at what prices, it (would be) more mechanized.”

— Joerg Wuttke, Partner, DGA-Albright Stonebridge Group

“Where are the market forces?”

— Joerg Wuttke, Partner, DGA-Albright Stonebridge Group

“It's clear the old system didn't perform. Could we try a new system that might work?”

— Chad Bown, Expert, Peterson Institute for International Economics

“It would require a sincere commitment from both sides and would still be 'really, really hard'.”

— Chad Bown, Expert, Peterson Institute for International Economics

What’s next

Officials from the US and China are expected to continue discussions about the proposed 'Board of Trade' mechanism in the coming weeks and months as they explore ways to manage trade flows between the two countries.

The takeaway

The debate over a 'Board of Trade' highlights the ongoing tensions between the US and China over the future of their economic relationship. While a managed trade approach could offer stability, it also raises concerns about potential market distortions and the ability of both sides to make the necessary compromises for it to succeed.