Top US, Chinese officials meet ahead of Trump-Xi summit

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US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng began talks Sunday, as they set the stage for possible agreements on trade, Artificial Intelligence and other issues before a summit of the countries’ top leaders.

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The talks, which also include President Donald Trump’s top trade official Jamieson Greer, are expected to last all day at JPMorgan Chase’s headquarters in New York.

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It is a prelude to a planned White House meeting on Thursday between the leaders of the world’s two biggest economies: Trump and Chinese President Xi Jinping.

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Both sides will be looking to ease tensions on trade, technology and other strategic concerns. These include the possible extension of a trade truce expiring in November and guardrails for AI development.

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“I’m looking forward to having focused, fulsome and constructive talks today that will set the stage for our leaders’ meeting,” Bessent told reporters as he arrived for Sunday’s talks.

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US officials will also be looking to ensure the continued flow of rare earth magnets and critical minerals that are vital for US manufacturers.

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Another issue is US economic pressure on Iran, as Washington’s war with Tehran has entered its seventh month.

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China is a top economic partner of Iran that buys much of its oil output and a key diplomatic backer.

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Analysts caution that expectations for the Trump-Xi summit are low.

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“One of the only things we can hope for in the short term is a truce, and that this will likely continue through the remainder of this year,” said former US Deputy Secretary of State Kurt Campbell.

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“I think you will hear the president announce the intention to meet with Xi Jinping two more times,” added Campbell, who is now chairman of The Asia Group consultancy.

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Trump and Xi are expected to meet in November at the Asia-Pacific Economic Cooperation forum in Shenzhen, China. Trump is also anticipated to invite Xi to the G20 summit in December at his Doral resort in Miami.

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AFP

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