U.S.–China open talks on AI, trade and minerals

Stacks of shipping containers at a major port illustrating U.S.–China talks on AI, trade and critical minerals

Key Points

01Bessent and He Lifeng to meet in New York on AI, trade and minerals
02Talks aim to prepare ground for an upcoming U.S.–China summit
03AI guard rails and model types are central items on the agenda
04U.S. officials say Chinese critical mineral flows remain insufficient

High-level U.S.–China talks convene in New York

U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to hold a day-long meeting at JPMorgan Chase’s (JPM) headquarters in Manhattan. The talks, scheduled to start at about 10:30 a.m. local time, bring together senior economic and trade officials from both countries, including U.S. Trade Representative Jamieson Greer.

The New York meeting is intended to tee up potential agreements ahead of a Washington summit between U.S. President Donald Trump and Chinese President Xi Jinping later in the week. Officials expect the discussions to run throughout the day as both sides seek to narrow differences on several sensitive issues.

Preparing for the leaders’ Washington summit

A key purpose of the talks is to assess the status of a U.S.-China trade truce that is set to expire on Nov. 10. Both sides are expected to review implementation of existing understandings and consider options that could shape the agenda for the forthcoming summit in Washington.

China’s Ministry of Commerce has said that He Lifeng will lead a delegation of Chinese companies to the United States for economic and trade consultations tied to the summit. This broader delegation underscores the economic focus of the upcoming high-level engagements.

AI governance and security at the center of talks

Artificial intelligence is one of the most prominent items on the New York agenda, with both sides exploring possible guard rails for its use. The discussions follow reports of security breaches involving AI models, which have heightened concern about the technology’s cross-border risks.

Scott Bessent has said he expects the AI component of the talks to cover both open- and closed-weight models. He has also stated that the United States remains the leader in AI and that it is open to discussions aimed at avoiding shared risks and preventing a bifurcation of the two countries’ AI systems.

Tensions over critical minerals and rare earths

Critical minerals and rare-earth magnets form another core topic for the meeting, reflecting their role in advanced technologies, including those that power AI and semiconductors. U.S. officials have described current flows of these materials from China as insufficient to meet needs.

A senior U.S. official has said that China’s performance in restoring critical mineral flows has not been up to par. The official indicated that this issue will be raised directly during the New York talks as part of preparations for the Trump–Xi summit.

Expectations and likely outcomes

Analysts cited in reporting view the most likely outcome of the Bessent–He discussions as limited, modest deliverables rather than a major breakthrough. The emphasis is expected to be on incremental steps that can be presented at the leaders’ summit rather than sweeping new accords.

Even with constrained expectations, the talks bring together key decision-makers on finance, trade, technology and resources at a sensitive moment in the bilateral relationship. Their discussions on AI governance, trade truce terms and critical mineral supply could shape the tone and substance of the upcoming summit.

Key Takeaways

01The New York meeting is a preparatory step, shaping the agenda and room for compromise ahead of the upcoming Trump–Xi summit.
02AI governance discussions focus on model types and shared security risks, reflecting rising concern over cross-border technology vulnerabilities.
03Critical mineral and rare-earth supplies have become a strategic pressure point, with U.S. officials signaling dissatisfaction with current Chinese deliveries.

References