US and China Hold Key Talks Ahead of Trump-Xi Summit

Senior U.S. and Chinese economic officials convened in New York on Sunday for high-stakes talks aimed at laying the groundwork for a summit between Presidents Donald Trump and Xi Jinping later this week. The meeting at JPMorgan Chase's Manhattan headquarters brought together U.S. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer, and Chinese Vice Premier He Lifeng for a full day of negotiations. The discussions are a direct precursor to a planned White House meeting between Trump and Xi scheduled for Thursday, September 24. Officials from both sides are seeking to manage tensions and prevent an escalation in the complex relationship between the world's two largest economies. A central agenda item is the potential extension of a U.S.-China trade truce that caps bilateral tariffs at approximately 20 percent. This agreement, reached in Busan, South Korea, last November, is set to expire on November 10. The urgency of extending the truce adds pressure to the current negotiations. The United States is also pushing for China to increase exports of rare earth magnets and critical minerals. A senior U.S.