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      US and China Establish Board of Trade Amid Ongoing Trade Talks

      US Treasury Secretary Scott Bessent reported a productive engagement with Chinese officials regarding trade and artificial intelligence during meetings in New York on Sunday. The discussions, which included US Trade Representative Jamieson Greer and Chinese Vice Premier He Lifeng, resulted in the operationalization of the Board of Trade, a mechanism aimed at reducing tariffs on non-strategic goods. Both sides agreed to continue dialogue on artificial intelligence and proposed a notification mechanism to enhance communication between the two nations.

      Greer indicated that the Board of Trade would likely include consumer goods and low-tech items from China, while the US could contribute energy products, agricultural goods, and potentially medical devices. However, the talks did not address the upcoming expiration of the US-China trade truce on November 10, nor did they resolve concerns regarding Chinese exports of rare-earth minerals, which have been criticized by US officials for not meeting expectations.

      The meetings took place ahead of a summit between US President Donald Trump and Chinese President Xi Jinping scheduled for September 24, 2026. Analysts suggest that while the tone of the discussions was constructive, the outcomes were procedural, and markets may not view them as a significant breakthrough. The focus on consumer and low-tech items indicates that sensitive areas, such as semiconductors and critical minerals, remain outside the current negotiations.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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