US and China must manage AI risks despite rivalry, says Bessent
Treasury Secretary Scott Bessent stated that Washington aims to de-risk trade with Beijing rather than decouple from the country.
US Treasury Secretary Scott Bessent said on Tuesday that the United States and China must cooperate to manage risks from advanced artificial intelligence. Speaking to the National Committee on US-China Relations in New York, Bessent noted that the two nations should establish a new dialogue on superintelligence during a meeting between President Donald Trump and Chinese President Xi Jinping in Shenzhen next week.
According to the Times of India, the meeting is scheduled for November 18-19 on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit. Bessent said the proposed dialogue aims to address shared risks and prevent misunderstandings. The discussions are expected to cover the testing of advanced AI models and measures to ensure human judgement remains in control of the technology.
Bessent also discussed trade initiatives, mentioning a proposed Board of Trade to manage reciprocal tariff cuts on $30 billion of non-sensitive goods. He also noted a proposed Board of Investment to discuss market access for American companies in China. He stated that the US objective is to de-risk the economic relationship rather than severing trade ties.
The Treasury Secretary added that the two sides should not have illusions about their differences, as their interests will not always align. He noted that while the US trade deficit with China remains a point of friction, Washington wants a relationship based on balance and reciprocity.