Bessent meets with Chinese counterpart ahead of Trump-Xi summit
Officials sought small steps on tariffs, critical minerals and AI guardrails as a trade truce nears its Nov. 10 expiration.
- On Sunday, Treasury Secretary Scott Bessent met Chinese Vice Premier He Lifeng at JPMorgan Chase's Manhattan headquarters to prepare for President Donald Trump's summit with Chinese President Xi Jinping.
- The negotiations addressed holdover issues from May's Beijing meeting, including efforts to reduce tariffs on non-strategic goods and Chinese pledges to increase agricultural purchases by US$17 billion annually.
- Bessent called the talks "very successful," noting that both nations agreed to establish a notification mechanism for AI incidents and utilize the "Board of Trade" to identify non-sensitive goods.
- Trade Representative Jamieson Greer emphasized that continued flows of critical minerals and rare earth magnets remain vital for American manufacturers amid ongoing supply concerns.
- President Trump will host President Xi at the White House on Thursday for a state dinner, though analysts expect only modest deliverables rather than a breakthrough in the delicate trade relationship.
21 Articles
21 Articles
THE US AND CHINA held successful talks on trade and artificial intelligence in New York ahead of a meeting between President Trump and Xi Jinping on Thursday.
Bessent proposes AI safety notification mechanism to China
US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng concluded talks in New York, with the US proposing a new AI safety notification system for Trump and Xi to consider at their summit this week. "We think that, just like...
US Treasury Secretary Scott Bessent on Sunday described a meeting with Chinese officials on trade and artificial intelligence as very successful, adding that the two countries discussed closer cooperation on the threats posed by artificial intelligence.
How Trump and Xi went from tariff war to trade truce
BEIJING, Sept 21 (Reuters) – Chinese leader Xi Jinping is set to meet US President Donald Trump at the White House on Thursday for talks aimed at keeping a fragile trade truce that is due to expire in November on track. Here is a look back at key moments in the US-China trade war: February 2025 – In one of his first moves since returning to office, Trump imposes a 10% duty on Chinese goods over fentanyl and immigration concerns. China responds…
United States Treasury Secretary Scott Biscent discussed with the Vice-President of the Chinese State Council Li Feng, in New York yesterday Sunday, economic and trade relations between the two countries, just before the forthcoming summit between Presidents Donald Trump and Shi Jin Ping in Washington next Thursday.
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