Chinese President Xi Jinping arrives in Washington this week for a White House visit to negotiate the extension of a bilateral trade agreement. The two leaders meet on September 24 to prevent the expiration of a truce on November 10 that previously cut tariffs by $30 billion. Xi has the option to offer a commitment to revive $6 billion a year in imports of US liquefied natural gas during the visit to secure gains with the Trump administration.

Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer held preparatory talks with China’s Vice Premier He Lifeng at JPMorgan headquarters in New York. The agenda for the upcoming summit includes agricultural purchases, rare earth minerals, and global guardrails to manage catastrophic AI risks. Recent shifts in fortunes, including a surge in China's global trade and US constraints from a war with Iran, have tempered expectations for concessions, analysts say.