Thought Leadership
Just days before a planned summit between U.S. President Donald Trump and Chinese President Xi Jinping, representatives of the world’s two largest economies met in New York to discuss their trade dispute and security risks associated with the use of artificial intelligence.
U.S. Treasury Secretary Scott Bessent said afterward that the United States had proposed a mechanism to ensure the exchange of key information on AI development. “We want a shared vision around shared goals and shared threats,” he said.
Bessent provided no further details on the substance of the proposal. He described the meeting with Chinese Vice Premier He Lifeng as “very successful.” Bessent had recently said that the United States was open to talks on how to mitigate risks associated with AI. In addition to AI, the New York meeting also covered the Board of Trade proposed by President Donald Trump, Bessent said.
The talks took place at the New York headquarters of U.S. banking giant JPMorgan Chase. According to U.S. Trade Representative Jamieson Greer, they were intended to lay the groundwork for a successful summit between Xi and Trump on Thursday. U.S. media reports said Xi was expected to arrive in Washington on Wednesday. Chinese officials have so far provided little information about the visit.
Tariff Truce Set to Expire in November
Greer said ahead of the meeting that the U.S. government would monitor the implementation of recent commitments and work toward “balanced trade.” Trump has long criticized the fact that China exports significantly more goods to the United States than it imports from the country.
Another key issue for both sides is likely to be an extension of the current truce in the tariff dispute. The agreed tariff pause is set to expire on November 10. A senior U.S. administration official criticized China for failing to sufficiently follow through on its commitment to ease restrictions on shipments of critical minerals.
Beijing said both sides would be “guided by the important consensus reached by the two heads of state” as they discuss economic and trade issues. China’s Ministry of Commerce did not provide details on the specific topics under discussion.
The presidents’ summit is also expected to address the war in Iran and tensions surrounding the island of Taiwan. China’s relationship with Russia could also be on the agenda.
(dpa/Translation: Editorial Team)
