# Key takeaways from Day One of the U.S.-China trade talks in New York > Source: > Published: 2026-09-21 08:16:02+00:00 1/ The Trade Council has started operating, and working-level teams are drafting a list of non-sensitive goods for mutual tariff reductions. This is expected to include consumer goods and low-tech products on the Chinese import side, and energy products, agricultural goods, medical devices and similar products on the U.S. side. 2/ An AI dialogue mechanism has been established, with another meeting potentially taking place in two months. The U.S. side proposed setting up a notification mechanism for national security incidents involving AI. 3/ There was no progress on AI-related export controls. Greer said they were not on the agenda. 4/ In its readout of the talks, the Chinese side described the discussions as “candid, in-depth and constructive” — relatively positive language by Chinese official standards. **Bessent and Greer Briefing:** **Scott Bessent:** Hey, good evening. Happy to take some questions. We just had a very successful engagement with the Chinese on trade and AI, completing where we left off in Beijing. We there created the board of trade and began the subject of AI and this evening those were operationalized. **Jamieson Greer:** Yep, that’s exactly right. We started in Beijing with notions on a board of trade AI dialogue. Today those notions have become reality. Most importantly, what we’re doing is we’re helping President Trump and President Xi continue their relationship. These are the two most powerful countries on earth whether it’s in trade or AI and it’s imperative that they’re able to work together. It doesn’t mean there aren’t challenges in the relationship. A lot of these are obvious. We don’t have to go into detail on those right now. What matters today is that we are preparing the groundwork so that when President Xi comes to Washington on Thursday, President Trump and President Xi will be able to have a successful summit. **Reporter:** Did you discuss the slowdown in investments? Have you discussed AI chip exports? **Scott Bessent:** I’m sorry, you’re asking about the AI dialogue? No, what we discussed was setting up a mechanism. So, it’s going to be called the US-China AI dialogue. We’ve agreed to meet again. The US has proposed that we have a notification mechanism between the two countries and we want a shared vision of common goals and common threats. **Jamieson Greer:** And I would say US export controls were not on the agenda for that. **Lara (New York Times):** What will the notification look like? Will it be for incidents or what [inaudible]? **Scott Bessent:** Well, the notification for whether there are incidents, whether there has been something that rises up to a national security level from AI, because we think that, just like with any cross-border activity, that moving from opaque to more transparency between the number one and the number two AI powers in the world is very important. **Reporter:** Did both sides discuss happening any mutual on the reduction on tariffs on [inaudible] worth of goods? Can you share any details of products that were [inaudible]? **Jamieson Greer:** So, we’ve operationalized the board of trade and the teams right now upstairs are continuing to work through this to see if they can find some critical mass of goods where in the future when and if there are trade measures, these are goods that could be considered separately. Goods that are nonsensitive, goods that could be traded in a balanced way and create a kind of ballast for the relationship. **China and U.S. Hold Economic and Trade Talks in New York** On September 20 local time, Chinese Vice Premier He Lifeng, China’s lead for China-U.S. economic and trade affairs, held economic and trade consultations in New York with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer, who led the U.S. side. Guided by the important understandings reached by the two heads of state, and following the principles of mutual respect, peaceful coexistence and win-win cooperation, the two sides had candid, in-depth and constructive discussions on key economic and trade issues of mutual concern, including the implementation of understandings reached in previous consultations and ways to promote bilateral trade and investment. The two sides also held a dialogue on issues related to artificial intelligence.