US Treasury’s Bessent, China’s He to launch talks on AI, trade, critical minerals

New York, September 20 (Reuters) - U.S. Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng are scheduled to meet on Sunday to discuss potential agreements on artificial intelligence, tariffs, and critical minerals ahead of a high-stakes summit between U.S. President Donald Trump and Chinese President Xi Jinping.

The meeting, held at JP Morgan Chase's headquarters in Manhattan, will be attended by U.S. Trade Representative Jamie L. Costa. The discussions are expected to cover the status of the U.S.-China trade truce, the flow of Chinese rare-earth magnets and critical minerals, and potential regulations for AI after reports of security breaches.

Analysts predict that Washington and Beijing may only agree on minor steps to prevent escalating tensions, with both sides likely expecting a status quo. Many of the issues to be addressed are derived from the May meeting between Chinese leaders and U.S. officials in Beijing, which aimed to reduce tariffs on non-strategic goods, increase Chinese purchases of U.S. agricultural products, and boost Boeing aircraft sales.