China, US hold economic and trade talks in New York; trade issues, AI among topics discussed

Chinese and US economic and trade officials held talks on Sunday local time on economic and trade issues of mutual concern, with artificial intelligence (AI) also among the topics discussed, Xinhua News Agency reported on Monday.

Chinese Vice Premier He Lifeng, also China's lead person for China-US economic and trade affairs, held economic and trade consultations in New York on Sunday local time with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer, the US lead persons.

Guided by the important consensus reached by the two heads of state and upholding the principles of mutual respect, peaceful coexistence and win-win cooperation, the two sides held candid, in-depth and constructive exchanges on major economic and trade issues of mutual concern, including implementing the consensus reached during previous economic and trade consultations and promoting bilateral trade and investment. The two sides also held a dialogue on issues related to artificial intelligence.

The latest consultations came as the two sides have maintained communication on implementing the outcomes of previous economic and trade talks. The talks in New York mark the latest exchange after China and the US achieved positive outcomes in economic and trade consultations in May in South Korea, including tariff arrangements, resolving non-tariff barriers and promoting two-way trade including in agricultural products.

Chinese expert noted on Monday that one key signal from the latest China-US economic and trade talks is that both sides remain committed to existing agreements and to turning the consensus reached by the two heads of state into concrete action.

“In trade and investment, China and the US share many common concerns and interests, while differences remain on several issues, which makes continued consultations necessary to build consensus, reduce trade disputes and frictions, and create better conditions for normal business and commercial activity. This also reflects the central role economic and trade ties play in the broader China-US relationship,” Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times on Monday.

Following the consultations in South Korea in May, the two sides reached consensus on several measures that were in line with their existing agreements and market expectations, while some details still need to be further worked out and implemented, Zhou said, adding that the two sides will continue discussing the relevant issues on that basis.

Recent high-level interactions between China and the US have become more frequent, a trend Chinese experts said points to greater overall stability in bilateral ties. At a time when some longstanding disputes remain difficult to resolve and new sources of friction are emerging, stronger strategic stability between the world’s two largest economies and major powers could also help underpin broader global stability.

On Thursday, Chinese Foreign Minister Wang Yi spoke by phone with US Secretary of State Marco Rubio. During the talks, Wang said that China-US relations have for some time generally moved along the path towards a constructive relationship of strategic stability set by the two heads of state, which is conducive to responding to the expectations of the international community.

In late August, when meeting US Ambassador to China David Perdue, Wang called on the two countries to earnestly implement the important consensus reached by the two heads of state and remove disruptions and overcome obstacles to high-level exchanges, according to Xinhua.

Notably, the New York talks also touched on artificial intelligence, an issue drawing growing international attention. Chinese experts said that as AI advances rapidly, greater China-US coordination on governance is increasingly expected by the international community and is also needed to support the sector’s sound and responsible development.

Zhou said AI had advanced rapidly over the past one or two years, with far-reaching implications for economies, industries and business models worldwide. As two of the world’s leading economies in AI, both with strong momentum in the sector, China and the US should use dialogue to explore workable approaches and development models, foster an environment for AI to be used for good, and reduce potential risks as the technology advances.

Yet even engagements continue, the US has kept up trade restrictions and pressure on China, particularly in the technology and AI sectors.

Recently, US agencies including the National Security Agency jointly issued an advisory accusing Chinese AI company of conducting “industrial-scale” model distillation to acquire capabilities from advanced US AI models, while recommending defensive measures for US companies.

China’s Ministry of Commerce said on September 9 that it firmly opposes the US move, calling US accusations groundless and saying they reflected double standards as well as US efforts to pursue technological hegemony, monopolize computing power and suppress competition in the AI sector.

Zhou said that practical cooperation with China requires greater sincerity and joint efforts to improve rules and support sustainable economic development.