US, China hold economic talks in New York ahead of White House summit

US Treasury Secretary Scott Bessent met with Chinese Vice Premier He Lifeng in New York on Sunday for high-level negotiations covering artificial intelligence (AI) security, critical minerals and trade friction.

"These talks help lay the groundwork for (US) President (Donald) Trump to advance America's economic interests and deliver results for the American people," Bessent wrote on the US social media platform X, noting that the engagement continues dialogue on the economic relationship before Trump hosts Chinese President Xi Jinping in Washington.

Arriving at the JPMorgan Chase headquarters in Manhattan, Bessent told reporters that he anticipated "focused, fulsome and constructive talks" alongside US Trade Representative Jamieson Greer.

Discussions initially involved full delegations before the ministers separated for private one-on-one sessions, the US-based Fox Business news channel reported. Negotiators sought common ground on AI and rare earth supplies to present a framework allowing Trump to make a "thumbs up or thumbs down" decision prior to the White House summit.

The American side was expected to press Beijing on trade compliance, specifically urging Chinese officials to fulfill agricultural purchase commitments while addressing critical mineral export flows, according to Fox Business.

Authorities have not publicly outlined specific decisions resulting from the Manhattan sessions.