US and China Hold Talks to Prepare for Major Summit
Top officials from both countries met in New York to work out trade and technology deals before their leaders come face to face.
US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng met in New York City on September 20. They talked about trade, technology, and other important issues. These talks were meant to help prepare for a bigger meeting between the leaders of the US and China. President Donald Trump and Chinese President Xi Jinping are expected to meet at the White House on October 24.
The discussions took place at JPMorgan Chase's headquarters and were planned to last all day. President Trump's top trade official, Jamieson Greer, also took part in the talks. A source close to the meeting said the talks covered trade, artificial intelligence, and rare earth materials. Officials said working-level meetings could continue into the next day.
One big topic was a trade truce between the two countries that is set to expire in November. Both sides want to extend this truce so that new tariffs, or taxes on imported goods, do not kick in. They also talked about setting up rules for how each country develops artificial intelligence. Bessent said the US is open to working together to avoid risks and keep the two countries' AI systems from drifting apart.
Rare earth magnets and critical minerals were also a major concern at the talks. These materials are very important for US factories that make things like electric cars and high-tech devices. China produces much of the world's supply, so keeping trade in these materials open is a big deal for America. Earlier talks had also led China to promise to buy more US farm products, and officials wanted to make sure that promise was being kept.
Experts say people should not expect too much from the upcoming Trump-Xi summit. Former US deputy secretary of state Kurt Campbell said the best result would be a continued truce through the end of the year. He also predicted Trump would announce plans to meet Xi two more times. Those future meetings could happen at a major Asia-Pacific forum in Shenzhen, China in November, and at a global summit in Miami in December.
I'm looking forward to have focused, fulsome and constructive talks today that will set the stage for our leaders' meeting.
Comprehension quiz preview
1. Where did Scott Bessent and He Lifeng hold their talks on September 20?
2. When is the planned White House summit between Trump and Xi Jinping?
3. Which of the following topics was NOT mentioned as a subject of the New York talks?