US-China Talks Set Stage for Trump-Xi Summit

The update

Treasury Secretary Scott Bessent described his meeting with Chinese Vice Premier He Lifeng as “successful” ahead of the Sept. 24 Trump-Xi summit. The talks covered artificial intelligence and trade, with both sides agreeing to establish a “U.S.-China AI Dialogue” and a notification mechanism for AI incidents that rise to national security levels. U.S. Trade Representative Jamieson Greer announced the U.S.-China Board of Trade has been “operationalized” to facilitate trade negotiations.

Why it matters

This meeting represents crucial diplomatic groundwork for the upcoming Trump-Xi summit. The agreement on AI dialogue between the world’s two leading AI powers could establish important transparency mechanisms as technology competition intensifies. The operationalization of the Board of Trade may provide a structured approach for addressing trade tensions separately from broader political issues.

What to watch

Whether the AI dialogue leads to concrete agreements on AI governance at the Trump-Xi summit. How the Board of Trade will function in practice and which goods might be prioritized in trade negotiations. Whether Chinese officials publicly characterize the meeting as “successful” to match Bessent’s assessment. The potential impact on global markets and technology sectors if cooperation expands in these areas.

Sources

• cnbc.com — Details on Bessent's meeting with He Lifeng and AI dialogue proposal
• ft.com — Confirmation of US-China meeting in New York