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.
19 Articles
19 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.
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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.
Chinese-American talks in New York set the stage for the Trump and Shi Summit in Washington, D.C., in an effort to contain trade and technological differences and promote cooperation in artificial intelligence.
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