US-China Economic and Trade Talks Underway in New York; Bessent: Preparing for Leaders'Summit

Ahead of Chinese President Xi Jinping’s visit to the United States, Chinese and U.S. representatives held economic and trade consultations in New York on September 20. Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessent participated in the talks. Key topics included the U.S.-China trade truce agreement set to expire on November 10, as well as artificial intelligence (AI), critical minerals, and other economic issues.

The meeting took place at the headquarters of JPMorgan Chase in Manhattan. U.S. Trade Representative Jamieson Greer also attended.

Before the meeting, Bessent told reporters that he looked forward to talks that would be “focused, substantive, and constructive.” He later posted a photo on social media showing him shaking hands with He Lifeng, stating that the discussions were preparing the ground for the upcoming U.S.-China leaders’ summit and would help lay a foundation for President Trump to advance U.S. economic interests and benefit the American people.

China’s Ministry of Commerce had earlier said both sides would be guided by the important consensus reached by the two heads of state and would discuss economic and trade issues of mutual concern. The U.S. side indicated that sanctions related to the conflict involving Iran might also be raised.