US, China to discuss AI, trade, and rare earths ahead of Trump-Xi summit

US, China to discuss AI, trade, and rare earths ahead of Trump-Xi summit U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng have launched high-level economic talks in Manhattan, New York, to lay the groundwork for a forthcoming presidential summit between Donald Trump and Xi Jinping. Discussions focus on establishing potential safety guardrails, preventing system bifurcation, and managing shared risks for both open-weight and closed-weight AI models. The talks aim to address the expiring U.S.-China trade truce set for November, evaluate targeted tariff reductions on non-sensitive goods, and monitor past commitments on agricultural purchases. Washington is pushing for more reliable access to rare-earth magnets and critical materials, amid ongoing friction over export controls and supply chain security. U.S. Trade Representative Jamieson Greer is also participating in the discussions as both sides look to finalize deliverables ahead of the Washington leaders'summit. As reported by Reuters, Key topics will be the status of a US-China trade truce that is set to expire on November 10, flows of Chinese rare-earth magnets and critical minerals that US officials say are insufficient and potential guard rails for artificial intelligence after reports of key security breaches involving AI models. The most likely outcome, analysts say, would be for Washington and Beijing to ​agree on small steps to show they are continuing to avoid escalating tensions in a delicate trade relationship that has major consequences for the global economy. "I think there will be some show ​of deliverables because of the fact that it's a presidential summit coming, but I don't feel like we're on the verge of some sort of ⁠breakthrough," said Anna Ashton, a longtime China trade analyst and founder of Ashton Intelligence. "I think status quo is probably both sides' general best expectation."