Story
US Treasury Secretary Bessent to Meet China's Vice Premier He Lifeng in New York
Summary
U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to meet on Sunday at JPMorgan's headquarters to discuss economic issues, including AI security and trade, ahead of a presidential summit.
U.S. Treasury Secretary Scott Bessent is scheduled to meet with Chinese Vice Premier He Lifeng on Sunday in New York to discuss key economic issues, a person familiar with the matter said. The high-level dialogue comes just days before a planned summit between President Donald Trump and Chinese President Xi Jinping in Washington.
Details of the Meeting
The meeting is scheduled for 10:30 a.m. ET on Sunday at the Manhattan headquarters of JPMorgan Chase, according to the source. The agenda is expected to cover a range of critical topics, including:
- Artificial intelligence (AI) security
- Bilateral trade relations
- Other pressing economic matters
This discussion serves as a crucial preparatory step for the leaders of the world's two largest economies.
Context for Presidential Summit
AdThe timing of this meeting is significant, as it precedes President Xi's visit to the White House on the following Thursday and Friday. High-level engagements between senior economic officials often lay the groundwork for negotiations between heads of state, signaling a continued effort to maintain open lines of communication despite ongoing economic friction.
For investors, such dialogues are closely watched for any indication of a shift in policy or a potential de-escalation of tensions that could impact global markets.
Logistical Arrangements
JPMorgan Chase is providing its headquarters as a neutral venue for the talks but is not otherwise involved in the meeting, the person familiar with the planning noted. The choice of a private location is linked to the heightened security measures across Manhattan ahead of the United Nations General Assembly, which begins next week.
JPMorgan CEO Jamie Dimon is among the American business leaders invited to a state dinner for President Xi next week, according to U.S. officials.
Read next
More on Stocks
Weil, Gotshal & Manges Reportedly Explores Merger Options Following Partner Exits
The prominent law firm is reportedly considering a potential merger and other strategic options after a series of high-profile M&A partner departures, according to a Bloomberg News report.
SpaceX Weighting in Nasdaq 100 to More Than Double to 2.82% in Rebalance
The aerospace company's weighting in the tech-heavy index will jump from 1.28% to 2.82% in a quarterly adjustment, a move that will force passive funds and ETFs to purchase billions of dollars in stock.
US Judge Signals Rejection of Key Part of TikTok's $400 Million Privacy Settlement
A federal judge has indicated he will likely reject a crucial component of a $400 million settlement between TikTok, its parent ByteDance, and the U.S. Justice Department, casting doubt on the resolution of a children's privacy lawsuit.
Porsche Faces Potential for 4,100 Additional Job Cuts, Handelsblatt Reports
Volkswagen's restructuring plan reportedly includes a proposal for another 4,100 job cuts at its Porsche brand to address a €700 million overhead gap, according to German newspaper Handelsblatt.