Bessent and He to open US-China talks on AI, trade, and critical minerals in New York

US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng will meet Sunday in New York to discuss AI, trade, and critical minerals ahead of a Trump-Xi summit this week. The talks aim to produce small agreements, not a major breakthrough. The all-day meeting at JP Morgan Chase includes US Trade Representative Jamieson Greer, covering a trade truce expiring Nov 10, insufficient Chinese rare-earth flows, and AI guardrails after security breaches. Analysts expect modest deliverables to show both sides are avoiding escalation. The talks continue a 16-month pattern of pre-summit negotiations, following the November 2025 Busan truce that capped US tariffs at 20 percent. China has underperformed on critical minerals pledges, a key discussion topic for the Washington meeting.