Treasury Secretary and Chinese Deputy PM meet in New York to prevent market shock

U.S. Treasury Secretary Scott Bessent and Chinese Deputy Premier He Lifeng are meeting today at JPMorgan Chase headquarters in Manhattan for comprehensive talks to prevent market turbulence. According to reports, participating in the talks is also U.S. Trade Representative Jamieson Greer.

On the agenda: the trade 'ceasefire' between the countries, which is set to expire on November 10, supply chains for critical minerals and rare earth metals, agreements in the field of artificial intelligence and tariff reductions on non-strategic goods.

The talks were intended to prepare the ground for a summit between President Trump and Chinese President Xi Jinping, which is set to take place this week in Washington. According to reports, previous agreements between the countries set American tariffs on Chinese goods at a level of approximately 20 percent, and China committed to increase purchases of U.S. agricultural equipment by 17 billion dollars per year and purchase more than 200 Boeing aircraft.

A senior American official said China's performance on mineral supply 'did not meet requirements,' and the issue will be at the center of the talks.