High-level economic trade talks between the United States and China took place ahead of the upcoming U.S.-China summit scheduled for September 24. Despite rumors regarding Chinese President Xi Jinping's health, the negotiations are expected to proceed as planned.
On September 20, U.S. Treasury Secretary Scott Vessen and Chinese Vice Premier He Lifeng led their respective economic delegations in discussions in New York, as reported by China's state-run Xinhua News Agency on September 21. According to Reuters, the meeting began at 10:30 a.m. local time at JP Morgan's headquarters in Manhattan and continued throughout the day.
This meeting marks the eighth round of economic trade negotiations between the two countries, which began with talks in Geneva in May of last year. Unlike the previous seven rounds held in third countries, this is the first time the discussions are taking place in the United States. The last negotiation between Vessen and He occurred in May in Seoul, lasting approximately three hours, followed by President Donald Trump's visit to Beijing.
The current talks are expected to last four days, concluding by September 23, as the U.S.-China summit is set to take place in Washington, D.C. on September 24.
Key topics of discussion include China's supply of rare earths and critical minerals, energy supply disruptions due to the Iran situation, AI risk management, and trade and investment issues between the two nations. They are also reportedly negotiating an extension of the tariff truce set to expire on November 10.
It is anticipated that the high-level talks will result in an agreement to extend the trade truce between the U.S. and China for at least six months. Additionally, there may be an agreement to reduce tariffs on non-sensitive items, such as U.S. liquefied natural gas (LNG). However, other issues may face challenges in reaching consensus. Given the three-day duration of the negotiations, there is potential for significant outcomes.
Shen Dingli, an international relations expert in Shanghai, predicts that the negotiations will focus on six key agendas: Taiwan, economic and trade issues, investment, supply chains, AI, and regional security. AI has been added as a new agenda item. While both sides are expected to exchange views on AI, reaching a substantial agreement is considered unlikely.
* This article has been translated by AI.
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