US and China should stay clear-eyed on AI cooperation and competition, Bessent says
QQQ•Treasury Secretary Scott Bessent said the US and China should recognize their differences while cooperating on AI risks and competing for leadership. He said their next meeting will advance a dialogue on advanced AI models and a direct channel for alerting each other to serious incidents.
1. AI risk dialogue
Bessent said he will travel to China next week for President Donald Trump’s third meeting this year with President Xi Jinping. At the meeting in Shenzhen, on the sidelines of the November 18-19 Asia-Pacific Economic Cooperation leaders summit, the two sides will advance a dialogue on “superintelligence,” exchange practices for evaluating and testing advanced models, and establish a direct channel to alert each other to serious incidents.
2. Trade initiatives
Bessent cited plans for a “Board of Trade” to determine mutual tariff cuts on $30 billion of non-sensitive goods in each direction, as well as China’s pledged purchases of US farm goods. A “Board of Investment” will provide a forum for issues including market access for American companies in China and increased predictability for Chinese companies. He said the US aims to “de-risk, not to decouple” from trade with China.
