Bessent and Chinese Vice Premier meet in New York ahead of Trump-Xi summit

Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng in New York on Sunday to lay groundwork for President Trump's upcoming summit with China's leader Xi Jinping, scheduled for Thursday in Washington. The meeting at JPMorgan Chase's headquarters focused on trade relations, with Bessent stating he sought "focused, fulsome and constructive talks" ahead of the leaders' session. The discussions occur as a fragile US-China trade truce, formalized in November, is set to expire this November. The Trump administration reportedly planned to delay new tariffs on China over manufacturing capacity concerns until after the summit. Both sides have explored reducing tariffs on US energy and agricultural exports, while AI safety discussions have intensified since the officials last met in May.