Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng convened at JPMorgan headquarters in Manhattan to discuss AI policy, rare earth minerals, and agricultural purchases. The meeting marks the start of bilateral consultations intended to prepare for a diplomatic summit between Donald Trump and Xi Jinping. Trade Representative Jamieson Greer joined the sessions, which feature both full delegation meetings and one on one discussions between the ministers.

These talks occur four days before President Xi's visit to Washington on September 24, his first trip to the U.S. since 2023. Negotiators are working to extend a trade truce featuring $30 billion in mutual tariff cuts that expires November 10. The upcoming state visit includes a three day itinerary with a state dinner and a greeting by Trump at Joint Base Andrews.