US Treasury Secretary Scott Bessent said the US and China should harbor no illusions about their differences on artificial intelligence. He said a new bilateral dialogue on "superintelligence" will advance at next week's Trump-Xi meeting in Shenzhen.
Bessent, who will travel to China next week, said on Tuesday that the two countries should cooperate to mitigate AI risks while competing for AI supremacy. He spoke in prepared remarks to the National Committee on US-China Relations in New York.
Shenzhen meeting to advance a superintelligence dialogue
The meeting between US President Donald Trump and Chinese President Xi Jinping will take place in Shenzhen on the sidelines of the November 18-19 Asia-Pacific Economic Cooperation leaders summit. It will be their third meeting this year.
According to Reuters, Bessent said the dialogue is meant to guard against shared risks and "prevent a misunderstanding between our two systems." He said the two sides also expect to exchange best practices for evaluating and testing advanced models before their release.
Trump and Xi agreed on a new AI alert system at their September meeting at the White House. At the time, however, Trump also said he was reluctant to add new guardrails because he wanted to preserve US leadership.
Trade boards and the deficit
Bessent also pointed to trade initiatives from the two earlier summits, including a Board of Trade to determine mutual tariff cuts on $30 billion of non-sensitive goods in each direction. He said a similarly structured Board of Investment will provide a forum for market access for American companies in China.
He reiterated that the US trade deficit with China remains a source of friction. The US objective, he said, is to reduce risk rather than decouple from trade with China.
Source: Reuters via Investing.com
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