Armenpress: Bessent says U.S., China discuss creating joint trade and investme

U.S. and Chinese officials discussed forming a “Board of Trade” to govern bilateral trade between the world’s two largest economies, as well as a separate “Board of Investment,” Treasury Secretary Scott Bessent has said.

Bessent said he expected an announcement about large Chinese orders for Boeing aircraft during U.S. President Donald Trump’s visit to Beijing, adding that Washington wanted to expand exports to China.

In an interview with CNBC taped earlier on Thursday, Bessent said the two sides would also discuss other purchases, including energy and agricultural goods, as well as non-strategic, non-sensitive areas in which China could invest in the United States.

Fireworks, for instance, were goods that the U.S. would not seek to reshore, Bessent told CNBC’s “Squawk Box” after meetings with Chinese counterparts.

He said U.S. and Chinese officials had discussed forming a “Board of Trade” to govern bilateral trade between the world’s two largest economies, as well as a separate “Board of Investment” responsible for investment in those non-sensitive areas.

He pushed back against suggestions that Trump was seeking around $1 trillion in Chinese investment, saying, “I’m not sure where this $1 trillion investment number has come from.”

He added that the new investment board would review any Chinese plans to ensure they did not fall under the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS), which he chairs.

Bessent also said the two countries would establish a protocol for AI safety, adding they were having a “wholesome” dialogue because the U.S. is “in the lead” in the race to develop the technology.