The U.S.-China leadership summit is likely to focus on tech and trade, paving the way for lower tariffs on nonsensitive goods, Aberdeen Investments' Robert Gilhooly says in a note.

Preparatory meetings between Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng suggest that some progress has already been made on trade, the senior emerging markets economist says. That could pave the way for lower tariffs on some nonsensitive goods, while China may offer to buy more U.S. farm products, energy products and Boeing aircraft, he says.

An artificial-intelligence-safety dialogue or memorandum is plausible, but it would probably be short on details, Gilhooly says.