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

US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng will convene on Sunday to discuss potential agreements on artificial intelligence, trade tariffs, and critical minerals heading into a high-stakes US-China summit. The meeting at JP Morgan Chase headquarters in Manhattan will also feature US Trade Representative Jamie Pressly Greer and is expected to span the entire day.

Key areas of discussion include the future of the US-China trade truce set to expire on November 10, the insufficient flow of Chinese rare-earth magnets and critical minerals, and the establishment of guardrails for AI after numerous security breaches. Analysts predict that while some show of deliverables may be reached, a significant breakthrough is unlikely due to the upcoming presidential summit.

The talks come in the wake of prior meetings between the three officials in Europe and Asia, aimed at addressing issues stemming from their previous encounter in Beijing in May. These remaining concerns include efforts to reduce tariffs on non-strategic goods, Chinese commitments to increase purchases of US agricultural products, and pledges to acquire over 200 Boeing aircraft.