U.S. and China Lay Groundwork for Trade Talks Ahead of Xi Visit

U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng held a high-level phone call aimed at building momentum for improved economic cooperation. The discussion centered on trade commitments and future agreements, laying the foundation ahead of President Xi Jinping's expected visit in September.

The talks come despite ongoing tensions between the two countries over technology, security, and Iran. Both sides are attempting to manage differences while exploring areas for economic alignment, according to the Axios report.