US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng began a new round of talks in New York (USA) on Sunday (the 20th). Key topics under discussion include artificial intelligence (AI), rare earth elements, trade, and tariffs, preceding the meeting between Presidents Donald Trump and Xi Jinping.
The dialogue is taking place at the headquarters of JPMorgan Chase, and US trade representative Jameson Green is also participating. The meeting started around 11:30 AM (Brazil time) and is scheduled to last all day.
These negotiations are expected to serve as preparation for the summit between Trump and Xi, scheduled for September 24th. Another important aspect of the discussion involves critical minerals and rare earth elements, which are essential for various technological and industrial supply chains.
US government officials state that the supply of these materials from China remains below expected levels. Beijing had previously promised to restore the flow of critical minerals to the US and other markets. This topic is particularly relevant as rare earth elements are among the most tense points in the trade relations between Washington and Beijing.
The talks also cover the current trade truce between the two countries, which expires on November 10th. Washington and Beijing are considering reducing tariffs on non-strategic goods, as well as other trade commitments.
Among the agreements discussed since May are Chinese commitments related to additional purchases of US agricultural products worth $17 billion (about 87.4 billion reales) annually, as well as the purchase of over 200 Boeing aircraft. However, the details of these deals have not yet been disclosed.
According to analysts polled by Reuters, major agreements are unlikely, but minor successes may indicate that the governments of both countries continue to work towards preventing a new escalation in trade relations. These negotiations take place just days before Xi Jinping's visit to Washington to meet with Trump, once again placing economic and technological ties between the two largest global powers at the center of the discussion.
