US Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng in New York on Sunday for high-level discussions focused on artificial intelligence, critical minerals and trade issues, as Washington and Beijing seek to manage ongoing economic tensions.
The talks brought together senior officials from both countries ahead of a planned meeting between US President Donald Trump and Chinese President Xi Jinping in Washington.
Bessent said the discussions were intended to help prepare the ground for further engagement between the two governments and advance US economic priorities.
“These talks help lay the groundwork for President Trump to advance America's economic interests and deliver results for the American people,” Bessent wrote on X, describing the meeting as part of continuing dialogue on the economic relationship between the world's two largest economies.
Bessent and US Trade Representative Jamieson Greer arrived at JPMorgan Chase headquarters in Manhattan for the negotiations. Speaking to reporters before the talks, Bessent said he expected “focused, fulsome and constructive talks.”
Chinese state media described the discussions in similar terms, saying the two sides held “candid, in-depth and constructive exchanges” on economic and trade matters.
The Xinhua News Agency reported that officials discussed important economic and trade issues of common concern, as well as the implementation of understandings reached during previous negotiations between Washington and Beijing.
Artificial intelligence was also included on the agenda, adding a technology and national-security dimension to the broader economic discussions.
AI and Critical Minerals
According to Fox Business, the negotiations initially involved the full delegations before Bessent and He held private one-on-one discussions.
The talks reportedly sought to identify areas of common ground on artificial intelligence and supplies of rare earth and other critical minerals.
Critical minerals have become an important issue in US-China economic relations because of China's significant role in the global supply chain for several rare earth elements and related processing capabilities.
Washington has increasingly sought to strengthen access to critical minerals and diversify supply chains, while Beijing has used export controls on certain strategic materials as part of its broader economic policy.
The negotiations therefore brought together several interconnected issues, including trade commitments, industrial supply chains and emerging technologies.
US officials were also expected to raise concerns about China's compliance with existing trade understandings. Fox Business reported that Washington intended to press Beijing over agricultural purchase commitments and the flow of critical minerals.
Agricultural trade has been an important component of previous US-China negotiations, while China's control of significant portions of global critical-mineral supply chains has remained a concern for US policymakers and businesses.
Preparing for Trump-Xi Meeting
The New York discussions came as both sides prepare for further engagement between Trump and Xi.
Bessent said the negotiations would continue the economic dialogue between Washington and Beijing before the anticipated presidential meeting.
The two governments have faced a range of disagreements over tariffs, trade practices, technology restrictions, agricultural purchases and access to strategic resources.
At the same time, officials from both countries have maintained communication aimed at preventing economic disagreements from escalating into broader confrontation.
The latest talks appear to be part of that effort, with negotiators working through specific economic issues before the leaders' expected meeting.
According to the account reported by Fox Business, the US negotiating team hoped to develop a framework on AI and rare earth supplies that could subsequently be presented to Trump for consideration ahead of the White House summit.
The report said the proposed framework could allow the US president to determine whether the understandings reached by negotiators provided a basis for further agreements.
No Specific Outcome Announced
Despite the high-level nature of the meeting, neither Washington nor Beijing publicly announced specific agreements resulting from the Manhattan discussions.
China's official description focused on the candid and constructive nature of the consultations and said the officials discussed implementation of consensus reached during earlier negotiations.
The US side similarly presented the meeting as part of the continuing economic dialogue between the two countries.
The absence of publicly announced decisions leaves the details of any potential agreement on artificial intelligence, critical minerals, agricultural purchases or other trade matters unresolved.
Further negotiations may therefore be required before the two governments determine whether concrete commitments can be reached.
The meeting nevertheless represents another round of direct engagement between senior US and Chinese economic officials as Washington and Beijing attempt to address their differences while preparing for the next stage of discussions between Trump and Xi.
