High-level officials from the United States and China have co-spearheaded a meeting in New York to discuss issues surrounding the world’s two largest economies.
The meeting comes ahead of the landmark September 24 summit between visiting Chinese President Xi Jinping and his US counterpart, Donald Trump.
Collaboration for more AI innovation
Among the immediate issues discussed in New York were the future and the need for better monitoring of artificial intelligence (AI) that could be used as a threat.
The US delegation, led by Treasury Secretary Scott Bessent, highlighted the need for a collaborative approach with China to guide the global AI industry toward safer use, using a notification system to flag potential national security concerns.
Bessent was accompanied by US Trade Representative Jamieson Greer, who echoed his statement, saying it is vital for Washington and Beijing to communicate their “common goals and common threats” in using AI tools.
The Chinese delegates were led by the country’s Vice Premier He Lifeng, who hailed the positive atmosphere at the meeting that made both parties at ease in sharing their concerns and issues surrounding the AI industry.
Potential revival of LNG trade
The world’s top economies have expressed mutual interest in potentially reviving their trade relations on liquefied natural gas (LNG).
These could include cutting or eradicating tariffs on LNG supplies from the United States, more than a year after China slapped a 15% tariff on US LNG products.
Initial reports have confirmed that both parties have begun preparing to reach a framework only days ahead of Xi’s meeting with Trump, and that deal involves a tariff break on at least USD30-billion worth of goods.
The proposal was heavily supported by US-based LNG firms amid their expansion plan, and bringing back the Chinese market is seen as a huge opportunity for them as they attempt to send off 10 billion cubic feet per day by 2027 and beyond.
The US is the biggest exporter of LNG in the world, while China is the biggest importer, making what was once a robust LNG trade relationship deteriorate after Beijing retaliated against Washington’s move to apply tariffs on most Chinese goods entering US territories.
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Xi at the White House
Xi’s arrival in the US will be the second time that the leaders of the world’s superpowers meet in 2026; the first was when Trump arrived in Beijing in May.
According to reports, the Chinese leader will be in Washington for his two-day visit and will be welcomed at the White House by Trump and Melania, along with a military ceremony to honour his arrival.
Experts also believe that Xi’s visit to the White House was intended to express a friendly gesture to Trump and that landmark deals with the US should not be expected.
The Chinese Foreign Ministry initially said that Beijing has been committed to ironing out its differences with its US counterpart and building more “constructive strategic stability in China-US relations,” especially amid current geopolitical tensions.
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