US and China trade teams to meet in New York on AI, Iran, and tariffs
US Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng will lead trade talks Sunday in New York, laying groundwork for a Sept. 24 summit between Presidents Donald Trump and Xi Jinping in Washington. The meeting precedes the UN General Assembly. The negotiators will address energy disruptions from the Iran war, the AI boom, and trade, aiming to maintain a tariff truce expiring in November. US officials face urgency from Nov. 3 midterm elections where inflation concerns voters, while China prioritizes Taiwan and rare-earth exports. The talks follow a May meeting near Seoul and occur amid US restrictions on China's AI chip access and sanctions on Iranian oil trade. Both sides seek stability, though risks of renewed escalation remain as the US rebuilds its tariff wall.