U.S. and China Discuss Trade and Rare Earths Ahead of September Summit

U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held a video call on Thursday to lay the groundwork for President Xi Jinping's expected visit to the United States in September. The call, which also included U.S. Trade Representative Jamieson Greer, focused on maintaining stable economic ties and addressing mutual concerns. Secretary Bessent stated that Washington expects Beijing to fully meet its commitments regarding U.S. agricultural products and rare earths. He also mentioned discussions on implementing Trade and Investment Boards to move toward a more balanced economic relationship.

According to the state news agency Xinhua, the Chinese side expressed serious concern over recent U.S. economic and trade restrictions. These tensions include fresh tariffs imposed on China and 59 other countries over alleged forced labor concerns, as well as a ban on imports of humanoid and quadruped robots manufactured abroad. Other points of contention mentioned include AI technology competition, supply chain restrictions, and potential Chinese weaponry shipments to Tehran.

Outlets with a center-left lean framed the event as a response to U.S. efforts to suppress Chinese companies and wage a trade war. In contrast, a center-right outlet framed the discussion as a necessary effort to resolve doubts and address vulnerabilities, specifically highlighting U.S. concerns over intellectual property theft by Chinese AI firms.