US Treasury chief calls China trade and AI talks 'very successful'

US Treasury Secretary Scott Bessent called Sunday's meeting with Chinese officials on trade and artificial intelligence "very successful," saying both sides discussed establishing a communication mechanism on AI-related threats ahead of a summit between Presidents Donald Trump and Xi Jinping. Bessent met with Chinese Vice Premier He Lifeng in New York for about eight hours, with US Trade Representative Jamieson Greer also participating. The US proposed a notification mechanism between the countries and a shared vision of common goals and threats regarding artificial intelligence. The talks aimed to ease tensions on trade, technology, and strategic concerns, potentially extending a trade truce and creating AI safeguards. US officials also seek continued flow of rare earth magnets and critical minerals, while China's compliance with agricultural purchase commitments may face scrutiny.