Treasury Secretary Scott Bessent on Sunday met with Chinese Vice Premier He Lifeng in New York City before the anticipated summit between President Donald Trump and President Xi Jinping.

The discussions are set to address key economic issues, including artificial intelligence, tariffs, and rare earths.

Bessent Anticipates ‘Focused, Fulsome’ Talks

Bessent shared on X that these talks are crucial for setting the stage for the upcoming summit in Washington, D.C., on September 24. He emphasized the importance of these discussions in advancing U.S. economic interests and delivering results for the American people.

In New York City, Vice Premier He Lifeng and I are continuing our discussions on the U.S.-China economic and trade relationship ahead of @POTUS’ historic summit with President Xi in Washington. These talks help lay the groundwork for President Trump to advance America’s economic… pic.twitter.com/phmF11Aoxi

— Treasury Secretary Scott Bessent (@SecScottBessent) September 20, 2026

Before the meeting at JPMorgan Chase & Co. (NYSE:JPM), Bessent expressed his anticipation for "focused, fulsome and constructive talks" that would pave the way for the summit, according to a CNBC report. The meeting precedes Xi’s significant visit to Washington, marking his first during Trump’s second term.

The meeting also occurs amid ongoing debates in Washington over AI safety and national security, with the Trump administration advocating for voluntary safeguards. The report stated that notable figures like JPMorgan CEO Jamie Dimon and Citigroup Inc. (NYSE:C) chief Jane Fraser are expected at a state dinner during Xi’s visit.

Precursor to Trump-Xi Summit

The meeting between Bessent and He Lifeng is a precursor to the high-stakes summit between Trump and Xi, which comes amid heightened tensions over technology and trade. Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang is reportedly expected to attend a state dinner with Trump and Xi, highlighting the significance of tech discussions during the summit.

Additionally, China’s top newspaper has accused the U.S. of “naked double standards” in AI, emphasizing the importance of AI as a new domain for human development. This underscores the critical nature of AI discussions between the two nations.

Furthermore, President Trump has announced plans to appoint a new AI adviser and establish an “AI force,” indicating the administration’s focus on AI as a strategic priority.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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