Treasury Secretary Scott Bessent is engaging in talks with Chinese Vice Premier He Lifeng in New York City, focusing on critical topics such as artificial intelligence, tariffs, and rare earths. This meeting precedes a significant summit between President Trump and President Xi Jinping, scheduled for September 24 in Washington, D.C.
Bessent emphasized the importance of these discussions in advancing U.S. economic interests and preparing for the high-stakes dialogue between the two leaders. The backdrop of these talks includes rising concerns over AI safety and national security, as both nations vie for technological dominance.
The current U.S.-China trade truce, which includes commitments on rare-earth exports and agricultural purchases, is set to expire on November 10, adding urgency to the negotiations. The outcome of the summit could influence not only bilateral relations but also broader market dynamics, particularly in sectors affected by tariffs and technology regulations