US Treasury's Scott Bessent to Meet China's He Lifeng Ahead of Trump-Xi Summit

Scott Bessent from the US Treasury is scheduled to meet Chinese Vice-Premier He Lifeng in New York on Sunday. This meeting occurs just days before a summit between US President Donald Trump and Chinese President Xi Jinping.

The discussions in Manhattan are expected to focus on artificial intelligence (AI) and critical minerals, as well as broader trade issues. According to multiple sources, the recent trade truce between the two countries approaches its November 10 expiry date.

This meeting is part of broader US efforts to establish a communication channel addressing AI concerns. Officials from both nations aim to set the groundwork for future dialogue on this matter, particularly in the context of the forthcoming leadership summit.

Bessent's discussions with Chinese officials reportedly lasted around eight hours and aimed to pave the way for potential agreements between the two countries. This level of engagement signifies a proactive approach from both sides ahead of the high-stakes meeting.

Concerns about international regulatory standards for AI were also expressed by US Congressman Ro Khanna, who mentioned the need for safeguards similar to those established during the atomic era. These considerations are highlighted in the context of the impending summit, which is partly focused on technological competition between the nations.

The Chinese delegation for the summit will reportedly include senior aides with extensive policy expertise, as confirmed by China's Ministry of Foreign Affairs. This marks Xi Jinping's first state visit to the US since 2015, underscoring the significance of these bilateral discussions.