China and US Hold Economic and Trade Consultations in New York Ahead of Leaders’ Summit
New York: Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent held consultations on economic and trade issues in New York on 20 September 2026. The meeting took place on Sunday morning at JPMorgan Chase headquarters in Manhattan, with US Trade Representative Jamieson Greer also joining the discussions.
Before the talks started, He Lifeng and Scott Bessent shook hands and posed for photographs. Both sides described the exchanges as candid, in-depth and constructive.
What Was Discussed
The two delegations focused on important economic and trade matters of mutual concern. Topics included existing trade and tariff arrangements, artificial intelligence, critical minerals and rare earths, and the implementation of earlier consensus between the two countries.
US officials called the engagement “very successful.” One notable outcome was a proposal to set up a US-China AI dialogue mechanism to improve communication on shared goals and potential security concerns. Working-level talks were also expected to continue.
From the Chinese side, the discussions followed the principles of mutual respect, peaceful coexistence and win-win cooperation, guided by previous consensus reached at the leadership level.
Why These Talks Matter
The New York consultations are designed to prepare the ground for the upcoming meeting between the Chinese and US leaders in Washington later this week. High-level economic dialogue helps both sides manage differences on trade, technology and supply chains while keeping communication channels open.
At a time when tariff arrangements and access to critical materials remain sensitive issues, face-to-face talks at this level signal a continued preference for structured engagement over escalation.
The meeting forms part of ongoing efforts by the world’s two largest economies to address practical challenges through dialogue. Further updates are expected as the working groups continue their discussions and the leaders prepare for their summit.