Technology remains the biggest divide between the US and China.
US export controls on advanced semiconductors and chipmaking equipment – aimed at limiting China’s access to frontier AI capabilities – remain in place, with Greer saying they were not a major discussion at the talks.
Beijing continues to push for greater access to advanced technologies, while criticising what it sees as efforts to constrain its industrial development.
Artificial intelligence (AI) was expected to be a big part of conversations but there was no mention of it in readouts from the first day of the summit.
Bessent said that delegations are discussing AI guardrails at the summit, adding that it was “of utmost importance” that the US maintain its lead over China in AI.
“What we don’t want to do is stifle innovation. So our responsibility is to come up with the highest performance calculus where we can get the most innovation and the highest level of safety,” Bessent said.
Trump also entered the talks hoping for Chinese cooperation on the Iran conflict and oil market stability.
“[Xi would] like to see the Hormuz Strait open, and said ‘if I can be of any help whatsoever, I would like to help,'” Trump told Fox News.
The Chinese foreign ministry on Friday released a statement calling for “a comprehensive and lasting ceasefire”.
“Shipping lanes should be reopened as soon as possible in response to the calls of the international community,” it added.
Oil price volatility and repeated disruptions to supply routes have increased China’s import costs and pushed up prices across the world.
Trump has said that China could use its influence to encourage Iran to stabilise flows through the Strait of Hormuz, a key global energy artery.
Chinese readouts indicated the Middle East was discussed, though again, details were limited.
At the state banquet held for Trump in Beijing on Thursday evening, the US president invited Xi to the White House on 24 September.
Further discussions between the two sides are expected ahead of that summit, with the hope that the world’s two biggest economies can deliver a major breakthough on trade that proved elusive this time around.
