Treasury Secretary Bessent Meets Chinese Vice Premier He Lifeng Ahead of Trump-Xi Summit

Pre-Summit Discussions Held

Treasury Secretary Scott Bessent held a meeting with Chinese Vice Premier He Lifeng in New York City. This meeting took place in advance of Chinese President Xi Jinping's visit to the U.S. and his summit with President Donald Trump.

Bessent stated that these talks aimed to lay the groundwork for President Trump to advance America's economic interests. U.S. Trade Representative Jamieson Greer was also expected to participate in the discussions.

Key Economic Topics Addressed

The discussions between Bessent and He Lifeng focused on several critical economic issues. These included artificial intelligence, tariffs, and rare earths, among other aspects of the U.S.-China economic and trade relationship.

Bessent described the talks as "focused, fulsome and constructive," intended to set the stage for the upcoming summit between the leaders of the two largest national economies.

Context of U.S.-China Relations

The meeting occurs amid escalating tensions and competition between the U.S. and China, particularly in technological leadership. Xi Jinping's visit marks his first during Trump's second term, following Trump's earlier visit to Beijing.

The debate over artificial intelligence safety and national security is a significant backdrop, with the Trump administration favoring voluntary safeguards over broad mandatory regulations for AI developers. This issue is anticipated to be a part of the discussions between Xi and Trump.

Anticipated Summit Agenda

The upcoming summit in Washington is expected to feature high-stakes economic dialogue. Beyond AI, other issues such as trade and tariffs are likely to be addressed, including aspects of the current U.S.-China trade truce.