US Treasury Secretary Scott Bessent has described a meeting with Chinese officials on trade and artificial intelligence as "very successful". The meeting, which lasted around eight hours, was held with Vice Premier He Lifeng and included top US trade official Jamieson Greer. The discussions set the stage for possible agreements on trade, AI, and other issues before a summit of the countries' top leaders. US President Donald Trump and his Chinese counterpart Xi Jinping are due to meet on Thursday in Washington.
According to Bessent, the US proposed a notification mechanism between the two countries for incidents like security threats. The mechanism, which will be called the US-China AI dialogue, aims to facilitate greater communication on AI threats. Bessent said that both sides have agreed to meet again, indicating a willingness to continue working together. The meeting took place at JPMorgan Chase's headquarters in New York and included Chinese official Li Chenggang.
The discussions between the US and China come as both sides look to ease tensions on trade, technology, and other strategic concerns. These concerns include the possible extension of a trade truce and guardrails for AI development. US officials are also looking to ensure the continued flow of rare earth magnets and critical minerals that are vital for US manufacturers. The US and China have previously negotiated trade agreements, including China's pledge to purchase US agricultural goods.
Jamieson Greer emphasized the importance of working together, stating that it is "imperative that we are able to work together". The meeting between Bessent and Lifeng included one-on-one discussions, as well as working-level meetings that could continue into Monday. A source familiar with the discussions earlier told AFP that previous negotiations saw China pledge purchases of US agricultural goods, and their fulfilment of the terms could also be an issue under scrutiny.
The meeting between the US and China is seen as a significant step towards resolving trade and AI concerns between the two countries. The US-China AI dialogue is expected to facilitate greater communication on AI threats and promote cooperation on strategic issues. The discussions also come ahead of a summit between US President Donald Trump and Chinese President Xi Jinping, which is expected to address a range of issues, including trade and security.
According to sources, working-level meetings between the US and China could continue into Monday, indicating a willingness to continue negotiations. The meetings have been seen as a positive step towards resolving trade and AI concerns, and both sides are expected to continue working together. The US and China have significant economic ties, and cooperation between the two countries is seen as crucial for global economic stability.
The outcome of the meeting between the US and China is expected to have significant implications for global trade and security. The US-China AI dialogue is seen as a key development in promoting cooperation on strategic issues, and both sides are expected to continue working together. The meeting has been hailed as a positive step towards resolving trade and AI concerns, and both sides are looking forward to continuing negotiations.
Key points
- The US and China have agreed to establish a notification mechanism for incidents like security threats, which will be called the US-China AI dialogue.
- The meeting between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng lasted around eight hours and set the stage for possible agreements on trade, AI, and other issues.
- The US and China are looking to ease tensions on trade, technology, and other strategic concerns, including the possible extension of a trade truce and guardrails for AI development.
