SCMP Economy54 minutes agoPolitics1 min readChina

US Treasury Secretary Meets Chinese Vice Premier Ahead of Xi's State Visit

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US Treasury Secretary Scott Bessent held an unscheduled meeting with Chinese Vice Premier He Lifeng in Washington on Wednesday, hours before Chinese President Xi Jinping's state visit.
The talks at World Bank headquarters followed their Sunday engagement in New York, where they agreed to launch an AI dialogue and operationalize a bilateral trade body.

AI-generated summary

Why It Matters

US and Chinese officials have been engaged in high-level talks to manage bilateral tensions, following previous engagements in New York where they agreed to launch an AI dialogue and operationalize a trade body.

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US Treasury Secretary Scott Bessent held an unscheduled meeting with Chinese Vice Premier He Lifeng in Washington on Wednesday, hours before Chinese President Xi Jinping was due to arrive for a state visit.

“We had some unfinished business from Sunday. We want strategic stability, but it has to be based on reciprocity and fairness,” Bessent told Fox News on his way to the meeting.

The talks are under way at the World Bank headquarters in the US capital, following the two leaders’ engagement on Sunday at JPMorgan’s offices in New York.

After eight hours of negotiations in New York last week, the two sides agreed to launch a dialogue on artificial intelligence (AI) and operationalise a bilateral trade body. Sunday’s meeting was also attended by US Trade Representative Jamieson Greer.

What to Watch

AI outlook — possibilities, not facts

The US-China AI dialogue will produce initial framework agreements within months
Likely · Within months
The bilateral trade body will become operational before the end of the year
Possible · Within months

Open Questions

What specific outcomes emerged from the Washington meeting?
How will the AI dialogue be structured?
What reciprocity and fairness standards were referenced by Bessent?

US Treasury Secretary Meets Chinese Vice Premier Ahead of Xi's State Visit

Quick Look

US Treasury Secretary Scott Bessent held an unscheduled meeting with Chinese Vice Premier He Lifeng in Washington on Wednesday, hours before Chinese President Xi Jinping's state visit.
The talks at World Bank headquarters followed their Sunday engagement in New York, where they agreed to launch an AI dialogue and operationalize a bilateral trade body.

AI-generated summary

Why It Matters

Font size

“We had some unfinished business from Sunday. We want strategic stability, but it has to be based on reciprocity and fairness,” Bessent told Fox News on his way to the meeting.

The talks are under way at the World Bank headquarters in the US capital, following the two leaders’ engagement on Sunday at JPMorgan’s offices in New York.

What to Watch

AI outlook — possibilities, not facts

The US-China AI dialogue will produce initial framework agreements within months
Likely · Within months
The bilateral trade body will become operational before the end of the year
Possible · Within months

Open Questions

What specific outcomes emerged from the Washington meeting?
How will the AI dialogue be structured?
What reciprocity and fairness standards were referenced by Bessent?

US Treasury Secretary Meets Chinese Vice Premier Ahead of Xi's State Visit

Quick Look

Why It Matters

What to Watch

Open Questions

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US Treasury Secretary Meets Chinese Vice Premier Ahead of Xi's State Visit

Quick Look

Why It Matters

What to Watch

Open Questions

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