The U.S. Treasury, the Office of the U.S. Trade Representative and the State Department did not respond to Reuters' requests for comment. China's commerce ministry did not immediately respond to requests for comment.
China's foreign ministry said both countries maintain communication on their leaders' planned interactions this year, without elaborating.
SYMBOLIC SUMMIT
The two nations announced formal mechanisms to manage trade and investment ties in May. However, three separate sources briefed on the matter said the Board of Investment is unlikely to produce significant deliverables at the summit because of the challenging U.S. environment for Chinese investment.
Expectations for the summit remain modest, with limited prospects for major breakthroughs, the sources said.
Beijing and Washington also remain divided over which products should qualify as "non-sensitive" under the Board of Trade, the three sources said.
About 10 categories of "non-sensitive" goods are being discussed for inclusion, but this could change closer to the summit, one of the sources said.
BOARD OF TRADE
Reaching an agreement on the Board of Trade is one of the main U.S. priorities for the summit along with securing more rare earth export licenses for U.S. companies, the sources said.
An unnamed U.S. official said the administration continues to press Chinese counterparts to address China’s lack of compliance with the agreement they announced in Busan in October that secured a one-year trade truce that paused some export controls and tariffs, as well as other bilateral concerns.
Beijing has pressed for further tariff relief. China's commerce ministry said in July that both sides were exploring reciprocal tariff reductions covering $30 billion worth of products.
While the U.S. Supreme Court in February struck down China-related tariffs imposed under the International Emergency Economic Powers Act, Washington subsequently introduced a 10% global import tariff.
U.S. Trade Representative Jamieson Greer said on Thursday that both countries will make "some announcements on agriculture and non-tariff barriers" during the summit, without providing specifics.
U.S. Treasury Secretary Scott Bessent, Greer and Chinese Vice Premier He Lifeng will meet in early September to discuss summit deliverables, four sources told Reuters. Reuters could not determine the exact date or location of the talks.
SPY•
