US-China Talks in New York Set Stage for Xi's State Visit

US and Chinese officials are holding talks in New York on Sunday ahead of a state visit by Chinese President Xi Jinping, aiming to ease trade, technology, and strategic tensions between the two powers. US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are meeting for most of the day at JPMorgan's headquarters, with US Trade Representative Jamieson Greer present. The discussions precede a meeting between Presidents Donald Trump and Xi, with a key goal of extending a trade truce that expires in November. US officials also seek assurances that China won't impose new restrictions on rare earth mineral exports, which are vital for magnets in cars, smartphones, and defense equipment. Bessent is also leading economic efforts against Iran, where China serves as a key diplomatic supporter and oil buyer. Trump is expected to greet Xi personally at the airport on Wednesday.