Treasury Secretary Scott Bessent said the U.S. and China are working to operationalize a proposed “30-30-30” trade framework for non-critical goods, with tariffs, rare earths and artificial intelligence central to President Donald Trump and Chinese President Xi Jinping’s meeting in Washington on Thursday. Bessent said the notion was floated in Beijing and that U.S. Trade Representative Jameson Greer has operationalized it, potentially meaning more U.S. agriculture and energy sales and greater Chinese access to the U.S. market for “everyday items.” He said tariffs were “a focal point” in talks with Chinese Vice Premier He Lifeng, while rare earths and other trade commitments remain on the agenda. Bessent cited the personal Trump-Xi relationship as important, saying it has brought “great stability” since last fall. He said the two sides formalized a U.S.-China AI dialogue and plan to meet again in about two months in Shenzhen, aiming to open a communications line and develop protocols around AI risks including “uncontrollable agents,” cyber threats involving non-state actors and potential AI-related biological risks. Bessent also said he discussed Iran with Chinese officials, including People’s Bank of China Governor Pan Gongsheng, and that Chinese financial authorities have been engaged in U.S. sanctions efforts targeting aviation, maritime activity, crypto and gold.