Bessent and He Lay Groundwork for Trump-Xi Summit on AI and Trade

Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng in New York City on Sunday, ahead of the highly anticipated summit between President Trump and Chinese President Xi Jinping later this week.

The meeting, which took place at JPMorgan Chase's headquarters in Manhattan, aimed to set the table for the two presidents' talks by discussing key economic issues such as artificial intelligence, an expiring trade agreement, and critical minerals.

Bessent said in a post on X that the talks will help lay the groundwork for President Trump to advance America's economic interests and deliver results for the American people. U.S. Trade Rep. Jamieson Greer also attended the meeting, emphasizing the importance of deepening engagement between the two countries to facilitate mutually beneficial trade.

The summit between Trump and Xi is set to take place on Thursday at the White House, marking their second face-to-face meeting this year following their encounter in Beijing in May. Artificial intelligence is expected to be a major topic of discussion, with some industry leaders calling for safeguards on the industry earlier this month.