Politics & Policy

US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer held eight-hour negotiations with a Chinese delegation led by Chinese Vice Premier He Lifeng at JPMorgan Chase's headquarters in New York on September 20, 2026. The discussions served as a critical prelude to the planned White House summit between President Donald Trump and President Xi Jinping later that week. Both sides characterized the engagement as successful and constructive, aiming to stabilize bilateral relations amid intensifying geopolitical tensions. A central outcome of the meeting was the agreement to establish a formal "US-China AI dialogue" featuring a notification mechanism for potential national security incidents related to artificial intelligence. This initiative addresses shared concerns regarding the risks posed by increasingly capable AI systems while managing the technological race between the two powers. Additionally, US officials announced the operationalization of a new Board of Trade to oversee ongoing economic negotiations. Beyond AI governance, the talks addressed broader trade issues, including the identification of non-sensitive goods eligible for separate treatment from tariffs, such as Chinese consumer products and US agricultural or medical items. The United States also emphasized securing the continued flow of rare earth magnets and critical minerals vital for its manufacturing sector. Analysts note that while expectations for immediate breakthroughs remain low, the primary goal is to extend a trade truce through the remainder of the year ahead of future engagements at APEC and G20 forums