Bessent to Meet He Lifeng Weekend, Setting Stage for Xi-Trump Summit
On.cc · 2 SOURCESabout 1 hour ago1 MIN
Summary
US Treasury Secretary Scott Bessent said Tuesday he will meet Chinese Vice Premier He Lifeng this weekend to prepare for next week's summit between President Xi Jinping and President Trump. Speaking at a House Financial Services Committee hearing, Bessent indicated the leaders will continue discussing Iran and China's financial connections with Tehran, which Washington has been trying to isolate from Western financial systems.
Key Points
- Bessent will meet He Lifeng this weekend to lay groundwork for the Xi-Trump summit expected next Thursday
- The Treasury Secretary told lawmakers that the upcoming summit will cover Iran and China-Iran financial ties
- Washington has sanctioned three banks as part of efforts to exclude Iran from the Western financial system
- Bessent said private communications with Beijing have been productive and warnings about sanctions evasion have drawn attention
- Observers previously expected the Bessent-He meeting to occur in mid-September, with AI discussions also possible
Why It Matters
The meeting represents a critical diplomatic channel as the US seeks to coordinate with China on sanctions targeting Iran, potentially affecting global energy markets and financial stability. The Xi-Trump summit could set the tone for US-China relations through the remainder of 2026.
The meeting represents a critical diplomatic channel as the US seeks to coordinate with China on sanctions targeting Iran, potentially affecting global energy markets and financial stability. The Xi-Trump summit could set the tone for US-China relations through the remainder of 2026.