Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng to discuss artificial intelligence and trade ahead of a scheduled summit between President Trump and President Xi Jinping.
Key facts
- •Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer met with Chinese Vice Premier He Lifeng on Sunday.
- •The U.S. proposed a notification mechanism for AI incidents that rise to a national security level.
- •The U.S.-China Board of Trade has been operationalized to facilitate future trade negotiations.
- •President Xi Jinping is scheduled to visit Washington, D.C., for a summit with President Trump on September 24.
- •A current trade truce between the U.S. and China is scheduled to expire on November 10.
- •Business leaders including Jamie Dimon, Jane Fraser, Sam Altman, and Jensen Huang are expected to attend a state dinner during the visit.
U.S. Treasury Secretary Scott Bessent held a meeting with Chinese Vice Premier He Lifeng on Sunday to discuss artificial intelligence and trade. The talks took place in preparation for a summit between President Donald Trump and Chinese President Xi Jinping, which is scheduled for September 24 in Washington, D.C.
Artificial Intelligence Dialogue
Bessent and U.S. Trade Representative Jamieson Greer proposed the creation of a 'U.S.-China AI Dialogue.' This initiative would include a notification mechanism for AI-related incidents that reach a national security level. Bessent stated that increasing transparency between the world's two leading AI powers is a priority.
Trade Negotiations and Future Measures
Greer announced that the U.S. and China have operationalized the U.S.-China Board of Trade. This board aims to identify a 'critical mass of goods' that could be handled separately if future trade measures are implemented. Potential goods include consumer and low-tech items from China, and energy, agricultural, and medical products from the U.S.
Summit Context and Trade Truce
The upcoming visit by President Xi is his first to the U.S. during President Trump's second term. Discussions are expected to cover trade and tariffs, particularly as a current trade truce—which includes a suspension of reciprocal tariffs—is set to expire on November 10. The truce currently involves Chinese commitments regarding rare-earth exports and U.S. agricultural purchases.
Timeline
- March 16, 2026Treasury Secretary Scott Bessent and Vice Premier He Lifeng met for trade talks in Paris.
- September 24President Trump and President Xi Jinping are scheduled to hold a summit in Washington, D.C.
- November 10The current U.S.-China trade truce, including the suspension of reciprocal tariffs, is scheduled to expire.
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This article was independently rewritten by ManyPress editorial AI from reporting originally published by CNBC Technology.
