US and China hold high‑level talks in New York ahead of Trump‑Xi summit

Senior U.S. Treasury official Scott Bessent met with Chinese Vice Premier He Lifeng on Tuesday in New York to discuss a range of bilateral issues ahead of the anticipated summit between President Donald Trump and President Xi Jinping later this week. The two officials, representing the United States and China’s top economic policy teams, exchanged views on trade imbalances, currency coordination, and the implementation of the Phase One trade agreement signed earlier in the year. Both sides emphasized the need for continued dialogue to address lingering market access concerns and to stabilize financial markets amid global economic uncertainty.

The New York talks are intended to lay groundwork for the upcoming Trump‑Xi meeting, which is expected to focus on broader strategic and economic cooperation. U.S. officials indicated that the dialogue with He Lifeng will inform the U.S. delegation’s priorities, while Chinese representatives signaled a willingness to engage on issues such as intellectual property protection and supply‑chain resilience. Observers note that the bilateral engagement in New York reflects an effort to manage tensions and sustain momentum in the U.S.–China relationship as the leaders prepare for their high‑level encounter.