Bessent and He to Discuss Tariff Truce and AI Safety Ahead of Trump-Xi Summit

US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to meet in New York on Sunday, ahead of a high-stakes summit between President Donald Trump and Chinese President Xi Jinping later this week.

The talks will focus on artificial intelligence safety, trade, rare earth minerals, and other economic issues. The meeting is scheduled for 10:30 a.m. Eastern Time at JPMorgan Chase headquarters in Manhattan, which was chosen due to heightened security in the city ahead of the United Nations General Assembly.

US Trade Representative Jamieson Greer will join Bessent and He for the session, which is intended to prepare for the Trump-Xi summit scheduled for September 24 in Washington. The talks may extend into Monday in a working-level format, with an agenda kept flexible to allow broad engagement across multiple topics.

The US has expressed concerns over China's commitment to restoring supplies of critical minerals under the existing tariff truce arrangement, which caps tariffs imposed during Trump's second term at roughly 20%. The administration also wants China to take stronger action to curb the flow of fentanyl precursor chemicals into the United States.