Bessent and He Lifeng to lead New York trade talks before Trump-Xi summit

  • Scott Bessent and He Lifeng will meet in New York before the Trump-Xi summit.
  • The talks will address a tariff truce scheduled to expire on November 10.
  • China's Ministry of Commerce said He will lead business executives in U.S. consultations.

U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng will meet in New York on Sunday with U.S. Trade Representative Jamieson Greer to prepare for a Sept. 24 Washington summit between President Donald Trump and Chinese President Xi Jinping. The discussions are set to cover AI safety and model access, trade barriers, rare earth supplies, fentanyl precursor chemicals and the tariff truce due to expire on Nov. 10. Washington says China has not fully met its commitment under the truce to restore critical-mineral supplies, while Beijing said He will also lead Chinese business executives in economic and trade consultations. Both sides are seeking to prevent a renewed escalation despite limited expectations for a major agreement before the leaders meet. Prediction-market pricing on Alibaba's possible removal from the Chinese Military Companies list rose to 24.5% from 22% a day earlier ahead of the meeting.

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