Bessent, He Open New York Talks Before Trump-Xi Summit — SkimNews
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- He Lifeng joined Bessent at JPMorgan Chase's Manhattan headquarters on Sunday for talks that also include US Trade Representative Jamieson Greer, with the goal of preparing options for Trump and Xi to approve or reject at the White House summit.
- Bessent said the agenda covers "both open and closed-weight models" and pushed for AI "guard rails" to keep powerful systems from malign non-state actors while warning against full US-China ecosystem "bifurcation."
- The Busan truce from November 2025 capped US tariffs on Chinese goods at about 20 per cent and expires November 10, with outstanding Chinese pledges to buy $17 billion more in US agricultural goods and more than 200 Boeing aircraft.
- The Supreme Court struck down some Trump tariffs imposed under a national emergencies law, and the administration is rebuilding duties under other authorities — including a 12.5 per cent tariff on Chinese goods over forced-labour allegations.
- The negotiating pattern has Bessent, He and Greer meeting repeatedly over 16 months in European and Asian cities to prepare deliverables for the two leaders.
Why it matters: Bessent's New York negotiations are producing potential agreements on AI guard rails, rare-earth magnets and tariff relief for Trump's thumbs-up-or-down decision — and with the trade truce expiring November 10, the working-level room determines what the two leaders can actually sign at the White House.
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