China’s Vice Finance Minister Liao Min said the Monday discussions concentrated on implementing understandings reached by the two sides’ lead negotiators. He spoke briefly outside JPMorgan Chase’s headquarters in Manhattan, where the meetings were held, but did not answer questions about whether the two governments were considering an extension of their current trade truce.
The working-level session followed a full day of talks on Sunday led by Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent, with US Trade Representative Jamieson Greer and China’s top trade negotiator Li Chenggang also taking part. China’s government said the discussions covered implementation of previous economic agreements, bilateral trade and investment, and issues related to artificial intelligence.
Bessent said after Sunday’s meeting that the two governments had discussed creating a “US-China AI dialogue” intended to improve communication over the opportunities and risks posed by advanced artificial intelligence. He said Washington had proposed a notification mechanism for incidents involving AI that reached a national-security threshold, with the aim of increasing transparency between the world’s two largest AI powers.
Chinese officials described the Sunday discussions as candid, in-depth and constructive. Li said the talks had taken place in a good atmosphere, while both sides agreed that working teams would continue discussions. Neither government announced a formal AI agreement, leaving the proposed mechanism for further negotiation and possible consideration by the two presidents.
Trade questions remained unresolved as the delegations moved into their second day. The existing tariff truce is due to expire in November, making its possible extension a central issue before Xi’s visit. Greer said on Monday that an extension of three to six months was possible, while stressing that the terms were still under discussion and that time remained for negotiations.
Officials have also been working on arrangements to reduce tariffs on selected non-strategic goods through a process described by the US side as a Board of Trade. Greer said the mechanism was among the issues being operationalised, although several sensitive areas remained outside the immediate discussions.
Advanced semiconductor export controls were not part of the AI dialogue talks, according to Greer. Washington has restricted China’s access to high-end chips and semiconductor manufacturing equipment on national-security grounds, while Beijing has maintained controls affecting strategic minerals and materials important to technology and manufacturing supply chains.
Rare earths are expected to remain prominent when Trump and Xi meet. Chinese customs data showed exports of rare-earth magnets to the United States fell 21 per cent in August from the previous month to 512 tonnes, highlighting continuing concern in Washington over the reliability of supplies despite earlier understandings designed to ease trade frictions.
Xi is scheduled to visit the United States from September 23 to 25 at Trump’s invitation. The White House said Trump would greet him at Joint Base Andrews on Wednesday before hosting a state arrival ceremony and talks at the White House on Thursday.
China’s Foreign Ministry said Xi and Trump would exchange views on major questions concerning bilateral relations as well as international peace and development. Beijing has said it wants the visit to strengthen dialogue and cooperation while managing differences between the two countries.
The New York negotiations therefore served as the final senior economic preparations before the leaders meet. The two governments have been trying to translate earlier understandings into practical measures while preventing disputes over tariffs, technology controls, investment restrictions and critical minerals from disrupting the broader relationship.
Investment remained part of the agenda on Monday, reflecting efforts to clarify how economic ties can proceed alongside tighter national-security scrutiny in both countries. The talks did not produce a public announcement of new investment commitments or changes to existing restrictions.
Bessent and He also held a one-on-one meeting during Sunday’s session. Officials from both sides have indicated that further discussions on artificial intelligence are expected after the leaders’ meeting, with the proposed dialogue intended to provide a standing channel for communication on risks and areas of possible cooperation.
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