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 online speculation 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 JPMorgan's headquarters in Manhattan and lasted throughout the day.
This meeting marks the eighth round of economic trade negotiations between the U.S. and China, which began with talks in Geneva in May 2025. Unlike the previous seven rounds held in third countries, this is the first time the discussions are taking place in the U.S. 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 expected to discuss the extension of a 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 extended negotiation period of three days, there is potential for significant outcomes.
Shen Dingli, an international relations expert in Shanghai, predicts that the negotiations will focus on six key issues: Taiwan, economic and trade relations, 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 may prove difficult.
The talks, which began at 10:30 a.m. Eastern Time on September 20, concluded after 7 p.m. that evening. Following the meeting, Xinhua reported that "China and the U.S. engaged in candid, in-depth, and constructive discussions on mutual interests in investment and trade, and also communicated on AI matters." Additionally, Vessen told reporters after the meeting that "we had very successful discussions with the Chinese side on trade and AI," and proposed establishing a notification system for incidents related to AI, with both sides agreeing to continue dialogue on the topic.
* This article has been translated by AI.
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