US Treasury Secretary Scott Bessent described his discussions with Chinese Vice Premier He Lifeng as "very successful," covering artificial intelligence, trade, and investment. These talks in New York were held in anticipation of this week's summit between US President Donald Trump and Chinese President Xi Jinping. The two sides agreed to establish a dialogue on AI, aiming to develop a shared understanding of its goals and potential threats.
The discussions specifically highlighted national security concerns related to AI, with the US proposing a new AI safety notification mechanism for Trump and Xi to consider at their summit. Bessent emphasized the importance of increasing transparency between the world's top two AI powers, moving away from opaque practices. This proposal builds on earlier discussions between Trump and Xi in Beijing in May regarding AI consultations, which were never formally established.
Key topics during the meetings, which also involved US Trade Representative Jamieson Greer, included the status of a US-China trade truce expiring on November 10, concerns over the supply of Chinese rare-earth magnets and critical minerals, and the development of guardrails for artificial intelligence. Chinese trade negotiator Li Chenggang noted the positive atmosphere of the talks and confirmed a working group would continue discussions.
