Bessent sets stage for Xi visit in high-level China talk

Axios reports that Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer held a high-level video call this week with China's Vice Premier He Lifeng to prepare for President Xi Jinping's September visit. The call lasted more than an hour and was cordial. Bessent said the U.S. expects China to meet its commitments on rare earths and agricultural products, and both sides discussed implementing Trade and Investment Boards to pursue a more balanced economic relationship. The call sets the stage for potential new U.S.-China trade deals, though underlying tensions persist. The Trump administration recently announced plans to ban Chinese robots and power inverters as national security threats, Xi has threatened to withhold critical minerals, and Trump has released once-classified documents alleging Chinese meddling in the twenty twenty election. Meanwhile, reports indicate China plans to sell shoulder-fired missiles to Iran.

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