US and China discuss AI, investment as Trump-Xi summit nears
What's the story
Chinese and US officials have concluded their second day of trade talks in New York. The discussions were centered around artificial intelligence (AI), investment, and trade. These talks are part of the ongoing negotiations ahead of President Xi Jinping's upcoming visit to the US this week. China's Vice Finance Minister Liao Min confirmed that the focus was on delivering what had been agreed upon by both countries' lead negotiators.
Dialogue formation
US-China AI dialogue
On Sunday, US Treasury Secretary Scott Bessent, China's chief trade negotiator Li Chenggang, and Vice Premier He Lifeng held extensive talks.
After the meeting, both sides expressed optimism about their discussions.
Bessent announced that they had agreed to establish a "US-China AI dialogue" to foster mutual understanding of the technology's potential benefits and risks.
Truce talks
Extension of truce possible
With the current trade truce set to expire in November, there is much speculation about its possible extension.
US Trade Representative Jamieson Greer hinted on Bloomberg TV that a three to six-month extension could be possible, stressing that there was still time to negotiate terms.
President Donald Trump and Xi are likely to discuss trade, rare earths, and AI during their meeting.