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Bessent Meets with Chinese Counterpart Ahead of Trump-Xi Summit
The talks will focus on trade commitments, rare earths and sanctions pressure on Chinese banks linked to Iran, officials said.
On Sunday, Treasury Secretary Scott Bessent meets his Chinese counterpart, He Lifeng, in New York to discuss trade and economic issues, laying groundwork for President Donald Trump and Xi Jinping's summit scheduled for Sept. 24 and 25 in Washington.
Washington officials have criticized the Chinese regime for failing to honor trade commitments, particularly pledges to supply rare earth materials needed by American industries; mineral flows have "fallen short of Washington's expectations," a senior official said Sept. 18.
Financial links with Tehran are expected on the agenda after Treasury Secretary Scott Bessent sanctioned three Chinese banks for dealing with Iran; the U.S.-China trade truce set to expire Nov. 10 is also a priority discussion topic.
The Chinese Commerce Ministry stated consultations will focus on "economic and trade issues of mutual concern," while Wang called for "high-level engagement in the next stage" and Trade Representative Ambassador Jamieson Greer emphasized pursuing balanced trade.
Secretary of State Marco Rubio and Wang discussed the Middle East on Sept. 17, signaling broader geopolitical tensions involving Iran continue shaping diplomatic relations as the Trump Administration seeks to isolate the Iranian regime from global markets.
Ahead of a meeting between US President Donald Trump and Chinese President Xi Jinping, representatives from both countries are discussing economic and trade issues. In Washington, US Treasury Secretary Scott Bessant and Chinese Vice Premier He Lifeng held talks, discussing potential agreements on artificial intelligence.
The United States and China have begun negotiations in the run-up to the Trump and Sea Summit. The parties intend to extend the truce and agree on security measures in the AI area.