Bessent to Meet He Before Xi-Trump Summit
On.cc · 3 SOURCESabout 18 hours ago2 MIN
Summary
US Treasury Secretary Scott Bessent said at a House Financial Services Committee hearing on Tuesday, September 15, that he will meet Chinese Vice Premier He Lifeng this weekend to prepare for a coming summit between Chinese President Xi Jinping and US President Donald Trump. Bessent said the two leaders will continue discussions on Iran and on financial links between China and Tehran, as Washington steps up efforts to cut Iran off from Western financial channels. Newer reporting adds that the US side has not disclosed the exact time or venue of the Bessent-He meeting, though the Financial Times said it is expected to take place in New York and that US Trade Representative Jamieson Greer will also attend. Other issues expected around the summit include artificial intelligence, tariffs, agricultural purchases, rare earth supply, high-tech export controls and two-way investment.
Key Points
- Bessent told lawmakers on September 15 that he plans to meet He Lifeng this weekend to prepare for a Xi-Trump summit expected next week.
- He said Xi and Trump will keep discussing Iran, including China-Iran financial ties, while Washington tries to isolate Tehran from Western finance.
- Bessent said the United States has already sanctioned three banks and that private communications with Chinese officials have been constructive
- Neither Bessent nor the Treasury gave a precise time or place, but the Financial Times said the talks are expected in New York with Greer attending
- Reports say AI may be discussed, alongside trade issues such as tariffs, farm purchases, rare earths, export controls and bilateral investment.
Why It Matters
For Hong Kong readers, any tightening of US measures tied to Iran-related finance could raise compliance pressure for banks, traders and intermediaries dealing with cross-border payments and sanctions screening. If the summit also addresses AI controls, tariffs and rare earths, the outcome could affect regional supply chains, investment sentiment and the operating environment for Hong Kong businesses linked to mainland-US trade.
For Hong Kong readers, any tightening of US measures tied to Iran-related finance could raise compliance pressure for banks, traders and intermediaries dealing with cross-border payments and sanctions screening. If the summit also addresses AI controls, tariffs and rare earths, the outcome could affect regional supply chains, investment sentiment and the operating environment for Hong Kong businesses linked to mainland-US trade.