US and China hold final trade talks in New York before Trump-Xi summit
US Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng will meet Sunday in New York for final trade talks ahead of a Trump-Xi summit, aiming to maintain the current tariff truce and prevent further escalation between the world's two largest economies. The negotiators will lay groundwork for the Sept. 24 Washington summit between President Donald Trump and President Xi Jinping. Energy disruptions from the Iran war, artificial intelligence, and trade and investment top the agenda, with the truce expiring in November and US midterm elections approaching. New US tariffs over excess manufacturing capacity have been delayed until after the meeting. Both sides seek stability, though Bloomberg Economics warns renewed escalation risk remains as Washington rebuilds its tariff wall.