US and Chinese economic officials discussed establishing a dedicated communication channel for artificial intelligence concerns during meetings on Sunday, setting the stage for a summit between the two nations’ top leaders later this week.
“We just had a very successful engagement with the Chinese on trade and AI,” US Treasury Secretary Scott Bessent stated to reporters following extensive discussions with a delegation led by Chinese Vice Premier He Lifeng.
These discussions served as a precursor to a planned White House meeting on Thursday between the leaders of the world’s two largest economies: US President Donald Trump and Chinese President Xi Jinping.
The talks, which also involved top US trade official Jamieson Greer, continued for approximately eight hours at JPMorgan Chase’s headquarters in New York.
Bessent noted that both sides discussed creating a framework to address AI issues, termed the “US-China AI dialogue.”
“The US has proposed that we have a notification mechanism between the two countries,” Bessent explained.
Such notifications would address potential “incidents,” or situations “that rise up to a national security level from AI,” he added, noting that both sides have agreed to convene again.
Bessent and He also held a one-on-one meeting during the day, a source familiar with the matter confirmed.
Chinese official Li Chenggang, who was recently elevated to a top-level international trade representative post, was present at the New York talks. However, the Chinese delegation did not address reporters.
Greer emphasized Sunday that it is “imperative that we are able to work together.”
Both sides are seeking to ease tensions regarding trade, technology, and other strategic concerns. These efforts include the possible extension of a trade truce and establishing guardrails for AI development.
Non-sensitive trade
When asked about the possibility of mutual tariff reductions on certain goods, Greer stated that teams “are continuing to work through this.”
The objective is to identify “non-sensitive” goods that could be considered separately from broader trade measures in the future, he added.
Such products could encompass consumer goods from China, as well as energy, agriculture, and other items like medical devices from the US side.
Beyond less sensitive items, US officials are also working to ensure the continued flow of rare earth magnets and critical minerals, which are vital for American manufacturers.
Working-level meetings could continue into Monday, a source familiar with the earlier discussions told AFP.
Previous negotiations saw China pledge purchases of US agricultural goods, and the fulfillment of those terms could also be under scrutiny.
Another issue on the agenda is US economic pressure on Iran, as Washington’s conflict with Tehran has entered its seventh month.
China is a top economic partner of Iran, purchasing much of its oil output and serving as a key diplomatic backer.
Analysts caution that expectations for the Trump-Xi summit remain low.
“One of the only things we can hope for in the short term is a truce, and that this will likely continue through the remainder of this year,” said former US deputy secretary of state Kurt Campbell.
“I think you will hear the president announce the intention to meet with Xi Jinping two more times,” added Campbell, who is now chairman of The Asia Group consultancy.
Trump and Xi are expected to meet in November at the Asia-Pacific Economic Cooperation (APEC) forum in Shenzhen, China. Trump is also anticipated to invite Xi to the G20 summit in December at his Doral resort in Miami.
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