Scott Bessent, the United States Treasury Secretary, is scheduled to convene with He Lifeng, China’s deputy premier and vice-chairman of the State Council, in New York on Monday. The meeting is intended to address ongoing trade tensions and set the stage for the upcoming summit between President Donald Trump and Chinese leader Xi Jinping.
Reporting from the Financial Times indicates that Bessent will use the opportunity to raise specific U.S. grievances regarding what Washington considers unfair industrial practices originating from China. These discussions are part of broader efforts to manage economic friction between the world’s two largest economies ahead of high-level diplomatic talks.
The bilateral encounter highlights the continued engagement between Washington and Beijing despite persistent structural disagreements. As the next summit approaches, both sides appear to be working to clarify their respective positions through direct ministerial dialogue before the leaders themselves meet.
Optimistic, but let’s not get carried away. These talks often go nowhere quickly.
Good to see backchannel talks happening. Stability is key for global markets right now.
Curious what specific grievances are on the table. Tariffs or tech restrictions?
Unfair industrial practices? Seems like every admin says the same thing. How different will this be?
Finally some face-to-face dialogue. Hope this actually yields results before the summit.