Published: · Region: Global · Category: geopolitics

U.S. and China Set AI, Trade and Minerals Talks in New York Ahead of Trump–Xi Summit

Treasury Secretary Scott Bessent says the United States is open to talking with China about shared risks from artificial intelligence while stressing that America remains the AI leader. He’ll meet Chinese Vice Premier He Lifeng in New York this weekend to discuss AI, trade, rare earths and other issues before the Sept. 24 Trump–Xi summit.

Washington and Beijing are preparing for a round of economic and technology talks that will help set the tone for a looming Trump–Xi summit.

U.S. Treasury Secretary Scott Bessent says the United States is willing to discuss “shared risks” with China on artificial intelligence. At the same time, he insists that “the United States remains the leader in AI,” signalling that Washington sees itself as setting the pace in the field.

Bessent is due to meet Chinese Vice Premier He Lifeng in New York this weekend. According to Axios, their agenda includes AI, trade, rare earths and other economic issues. The talks come just days before U.S. President Donald Trump and Chinese President Xi Jinping are scheduled to meet on 24 September.

Business and security officials will watch closely for any sign that the two sides can manage competition over AI and critical minerals without sliding into outright economic confrontation. AI tools are already working their way into finance, logistics, and weapons systems, while restrictions on advanced chips and cloud services have become a central point of friction.

Rare earths and related materials add another layer. China’s dominance in mining and processing many of these minerals gives it leverage over global supply chains for electric vehicles, wind turbines and precision weapons. How far Beijing signals it might use that leverage in response to U.S. technology controls is a key question heading into the talks.

The New York meeting will also serve as a testing ground for what, if anything, Trump and Xi can announce later in the month. Even limited steps—such as agreeing on basic language about AI risks or sketching a process for future discussions—would matter for companies planning investments and for allies trying to navigate between the two powers.

Signals to watch next include any joint statements emerging from the Bessent–He meeting, hints from Washington about possible adjustments to export controls, and the weight Trump and Xi give to AI and tech security when they meet on 24 September.

Sources

Related Coverage

GLOBAL

EU Floats ‘Associate Member’ Role for Canada as Trade Tension with U.S. Grows

European Commission President Ursula von der Leyen has proposed that Canada become the EU’s first associate member, a status that would allow closer cooperation without full accession. The offer lands as a Trump‑era trade war with Washington intensifies, giving Ottawa a potential new way to balance its ties between the U.S. and Europe.
GLOBAL

U.S. Charges Five Over Alleged Russian Kill-and-Sabotage Network as Kremlin Stays Silent

The U.S. Justice Department has charged five people with helping Russian intelligence seek killers for opposition figures and saboteurs for military and civilian targets, including inside the United States. The Kremlin says it sees no need to comment until it has more information.
GLOBAL

EU signals new kind of partnership as von der Leyen invites Canada to explore ‘associate’ role

European Commission President Ursula von der Leyen told Canadian Prime Minister Mark Carney she wants to work together to open the possibility for Canada to become the first country to join the European Union as a partner, against a backdrop of trade disputes with Washington.
WARNING

U.S. Admits Operational Space Weapons, Exposing New Front in Great-Power Confrontation

At 19:02 UTC, the U.S. Air Force Secretary publicly confirmed that Washington has ‘on‑orbit space control weapons’ active in space, the first official admission of deployed space weaponry. The disclosure hardens the militarization of orbit, pressures China and Russia to respond, and raises long-term risk for satellite-reliant markets from GPS to global finance and energy logistics.
WARNING

Fed’s Surprise Hike Erases $500B From U.S. Stocks as Warsh Signals Tougher Line

The Federal Reserve’s unexpected 25bp hike to 3.75%-4.00% around 18:01–18:07 UTC and Chair Kevin Warsh’s blunt warning that inflation remains unacceptably high have knocked about $500 billion off U.S. equity valuations by 18:55 UTC. The move forces traders, corporates, and highly leveraged borrowers to reprice a more aggressive tightening path just as geopolitical energy and shipping risks are re‑building.
WARNING

U.S. Enables Major Venezuela Oil Expansion, Sanctions Risk Reprices

Continental Resources is set to develop a large oil patch in Venezuela as the Trump administration simultaneously removes Caracas from the U.S. narcotics non‑compliance list. Together, these steps signal a structural easing of policy risk and a clearer path for U.S. capital and technology into Venezuelan upstream, implying higher medium‑term global oil supply and compression of the Venezuela/geopolitical risk premium.