Bessent and He Lifeng Set Stage for Trump-Xi Trade Talks

The dialogue centered on Beijing’s progress toward its 2028 target of purchasing $17 billion in American agricultural goods. Bessent pressed for immediate transparency, signaling that these economic benchmarks serve as the primary litmus test for the upcoming presidential meeting. Both delegations also reviewed the functionality of the Trade and Investment Boards, which remain the core mechanism for managing the strained bilateral economic relationship.

While the talks aimed to stabilize expectations, the focus on rare earths underscores the strategic friction between the two nations. Securing reliable access to these materials remains a priority for the administration, as officials seek to ensure that Beijing’s previous promises translate into tangible market access before the September summit.