Top U.S.-China economic talks in Manhattan will lay groundwork for a Washington summit between President Trump and President Xi, focusing on AI, tariffs, and critical minerals, with officials including US Trade Representative Jamieson Greer.

The agenda includes extending the tariff truce beyond November 10 and boosting the flow of Chinese rare-earth magnets and minerals previously restricted.

Chinese Vice Premier He Lifeng will lead a U.S. delegation September 19–23 to discuss mutual economic and trade concerns, guided by the leaders’ important consensus.

Markets are watching for any tariff-truce progress or breakthroughs on tech export controls, with volatility possible in ADRs, semiconductors, and industrials if talks stall.

China rejects U.S. tariff attempts tied to Russian energy purchases, urging normal trade cooperation and condemning unilateral sanctions.

Analysts warn U.S. measures on Russia/Iran and Chinese AI security advisories pose challenges, while MOFCOM signals possible retaliation to safeguard sovereignty and development.

Costco’s fiscal Q4 results will hinge on membership dynamics, margins, and the impact of tariffs and consumer spending on demand.

Past talks in May yielded constructive outcomes on tariff arrangements and non-tariff barriers, with plans to form trade and investment councils and discuss tariff reductions.

U.S. pressure on Iran, including sanctions and oil restrictions, intersects with China as a major Iranian oil buyer and could influence concessions at the talks.

Analysts expect only modest progress ahead of the summit, emphasizing show-of-deliverables and maintaining the status quo rather than a breakthrough.

The most likely outcome is small-step progress to avoid escalation, with both sides seeking continued engagement during the presidential summit.

Overall, talks aim to manage the relationship and honor truce terms rather than secure major new deals in the short prep window.