US Treasury Secretary Scott Bessent stated on September 15, 2026, that he would meet with his Chinese counterpart, He Lifeng, this weekend. This meeting is scheduled to occur before a summit later this month between President Donald Trump and Chinese President Xi Jinping.
Bessent made these remarks during his testimony before the House Financial Services Committee, where he was discussing the state of the international financial system. He expressed anticipation for discussions with the Chinese Vice Premier regarding sanctions imposed in connection with the ongoing war in Iran, as the United States intensifies its economic pressure on the Islamic Republic.
The meeting is part of broader efforts by the US to isolate Tehran and hinder its ability to fund conflicts in the Middle East. The Treasury Department has recently launched "Operation Economic Outcast," imposing sanctions on various entities, including Russia's VTB Bank, Iran's proxy networks, and its entire aviation industry. The US is also urging other nations to sever financial ties with Iran, warning that companies dealing with Tehran risk being cut off from the dollar-based global financial system.
