US-China trade talks in New York end first day
SingTao · 1 SOURCESabout 3 hours ago2 MIN
Summary
The first day of US-China economic and trade consultations in New York ended with US Treasury Secretary Scott Bessent describing the engagement with Chinese Vice Premier He Lifeng as very successful. The talks focused on trade and artificial intelligence and were framed as preparation for a planned September 24 summit between US President Donald Trump and Chinese President Xi Jinping
Key Points
- Bessent met He Lifeng in New York on September 20 local time, with US Trade Representative Jamieson Greer also taking part in the discussions
- He Lifeng’s delegation arrived at JPMorgan Chase headquarters in Manhattan at about 10pm Hong Kong time on Sunday, and Bessent arrived roughly half an hour later
- The Chinese vice premier left the venue at about 7am Hong Kong time on Monday after talks that covered trade, AI, tariffs and supply issues
- Both sides agreed to hold another AI dialogue, while the US side proposed an AI notification mechanism between the two countries
- Greer said the bilateral “Board of Trade” mechanism is now operating, and teams are working on a first list of goods for tariff reductions
Why It Matters
For Hong Kong readers, the talks matter because they suggest both sides are still trying to prevent a renewed escalation before the leaders’ summit, even if concrete tariff cuts or purchase commitments have not yet emerged. The agenda also links trade with AI and rare earth supply chains, areas that can affect regional manufacturing, technology investment and market sentiment