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US, China Treasury Officials to Discuss AI Cooperation and Rare Earth Supply Before Trump-Xi Summit

September 18, 2026 at 20:30 EDT

Policy & Regulation
Infra & Chips
Foundation Models

US Treasury Secretary Scott Bessent is meeting with Chinese Vice Premier He Lifeng in New York City on September 19-20 to discuss artificial intelligence policy, trade, and critical rare earth mineral supplies ahead of a planned summit between Presidents Trump and Xi Jinping on September 24 in Washington. The multi-hour talks represent a significant diplomatic engagement focused on managing competition while exploring areas of potential cooperation, particularly on AI safety and supply chain stability.

Diplomatic Negotiation

US-China Treasury Talks on AI and Rare Earths

Before Trump and Xi meet in Washington, their treasury teams negotiate cooperation on artificial intelligence and control of critical minerals.

Meeting Timeline

Sept 19–20

Bessent–He talks in New York

Summit Ahead

Sept 24

Trump and Xi in Washington

Rare Earth Leverage: China's Processing Dominance

80%

Global Rare Earth Processing

20%

Rest of World

China dominates the refining of rare earth elements essential to electronics, magnets, and green energy—a critical asymmetry in US-China trade negotiations.

Trade Truce Countdown

Oct 30, 2025
Start

Nov 10, 2026
Expires

Issue: Both sides want extension, but disagree on length. China seeks through end of Trump administration; US prefers shorter term to retain leverage.

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