Treasury Secretary Scott Bessent and China’s Vice Premier He Lifeng met on Sunday in New York City, beginning high-level economic discussions ahead of a planned summit between President Trump and President Xi Jinping this week.
The talks took place at JPMorgan Chase’s headquarters in Manhattan. Jamieson Greer, the US trade representative, joined Bessent. He oversees China’s economy.
Bessent said the meeting was part of continuing discussions on the economic and trade relationship between the two countries. In a post on X, he wrote: “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”
Bessent said the discussions were intended to prepare for Trump’s meeting with Xi. “These talks help lay the groundwork for President Trump to advance America's economic interests and deliver results for the American people,” he said.
Greer said the US and China were “deepening their engagement to facilitate mutually beneficial trade between the two largest economies in the world”.
The officials did not disclose specific issues discussed during the meeting or announce any agreements. Details of the agenda for the Washington summit have also not been provided in the information available.
Markets moved modestly as the talks took place. Wall Street rallied to within 0.4% of its record, while oil prices and bond yields eased. The available information does not establish whether those movements were directly linked to the meeting or to any outcome from it.
The session brought together the US treasury secretary, the US trade representative and the Chinese official responsible for the country’s economy before the leaders’ planned meeting. The public statements from Bessent and Greer presented the talks as preparatory work on economic and trade relations, while leaving the substance of the negotiations undisclosed.
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