Bessent: US to extend tariff truce with China, discuss AI dialogue mechanism

U.S. Treasury Secretary Scott Bessent said Monday that Washington will likely extend the tariff truce with Beijing and establish a U.S.-China AI dialogue mechanism ahead of the leaders' summit on September 24. Bessent told CNBC that both sides aim to reduce tariffs on non-critical goods to most-favored-nation levels. He noted that U.S. and Chinese officials held full-day talks in New York on September 20, covering economy, artificial intelligence, and other issues. The tariff truce expires on November 10. Bessent cited stable bilateral relations since last autumn and good rapport between President Trump and President Xi Jinping as reasons for the expected extension. Both sides also agreed to hold further talks in Shenzhen within two months and establish a hotline for immediate communication