Scott Bessent to meet China’s He Lifeng this weekend as trade talks intensify

US Treasury Secretary Scott Bessent confirmed he will meet with Chinese Vice Premier He Lifeng this weekend, adding another chapter to what has become one of the most consequential bilateral economic dialogues in recent memory. Bessent and He Lifeng have met in Davos, Paris, London, Seoul, and Geneva over the course of 2025 and 2026, establishing what amounts to a standing appointment between the world’s two largest economies. Chinese state media has described the exchanges as “candid, in-depth, and constructive.” The discussions have covered tariff adjustments, rare earth mineral supply commitments, and US agricultural exports. One specific target: the US aims to export roughly 25 million tons of soybeans to China in 2026. A July 30, 2026 video call between the two reportedly turned pointed, with He Lifeng voicing serious concerns about US trade restrictions. The Board of Trade framework One of the more intriguing developments to emerge from the ongoing negotiations is a proposed Board of Trade mechanism. The concept would create a structured framework for exploring duty cuts on approximately $30 billion worth of goods traded between the two countries. These bilateral discussions ...