AI, Tariffs, Rare Minerals: What to Expect From Trump's Upcoming Summit With Xi Jinping Washington and Beijing have grown ever more linked in the AI boom, making hardware exports and technological restrictions hefty bargaining chips in negotiations. Of all the events in the United Nations General Assembly taking place this week, the most anticipated by far is the upcoming meeting between Donald Trump and Chinese president Xi Jinping. Though the majority of the diplomatic activities are happening in New York, this face-to-face between the two leaders will take place at the White House. Trump is scheduled to personally welcome Xi at Joint Base Andrews on Wednesday, September 23--an unusual diplomatic gesture, as US presidents do not typically go to the airport to welcome foreign leaders. Ahead of that airport reunion, a US delegation led by Treasury secretary Scott Bessent and trade representative Jamieson Greer is meeting with He Lifeng, China's vice premier of the State Council, to set the agenda.

Bessent hails'very successful' China talks on AI and trade U.S. Treasury Secretary Scott Bessent lauded "very successful" talks with his Chinese counterparts that spanned artificial intelligence, trade and investment ahead of this week's summit between leaders Donald Trump and Xi Jinping. Bessent, speaking to reporters after hours of talks in New York with China's Vice Premier He Lifeng and other officials, said the two sides agreed to set up a dialogue on AI aimed at reaching a common understanding on goals and threats. They plan to meet again, with top Chinese trade negotiator Li Chenggang saying the talks were held in a good atmosphere and a working group would continue discussions on Monday. "The U.S. has proposed that we have a notification mechanism between the two countries, and we want a shared vision of common goals and common threats," Bessent said, adding that it would be called the "U.S.-China AI dialogue." Later this week, Trump is scheduled to host Xi at the White House in the Chinese leader's first state visit to Washington in more than a decade.

Treasury Secretary Scott Bessent kicked off Michael Milken's annual financial bash in Beverly Hills by doubling down on President Trump's economic policy of trade reform, tax cuts and deregulation -- promising the "America First" agenda would be "the blueprint for a more abundant world." The former hedge fund manager, in a brief speech Monday that opened the Milken Institute Global Conference, said that all three elements of the policy must be taken together in order to be understood. "They are interlocking parts of an engine designed to drive long-term investment in the American economy," he said, in remarks at the Beverly Hilton. "Tariffs are engineered to encourage companies like yours to invest directly in the United States. Hire your workers here, build your factories here, make your products here. You'll be glad you did, not only because we have the most productive work force in the world, but because we will soon have the most favorable tax and regulatory environment as well," he said.