US and China to Discuss AI and Rare Earths in Trade Talks

US Treasury Secretary Scott Bessent and trade representative Jamieson Greer are set to meet with Chinese officials on Sunday to discuss artificial intelligence and rare earths, according to a source. The talks come as Western nations face challenges from Chinese export restrictions on niche metals. Meanwhile, Volkswagen has cut its profit outlook after a sales slump in China and a $6.9 billion writedown, and second-hand home prices in China have fallen in all 70 tracked cities. Lawmakers are also investigating a report that F-35 technology was sent toward China.