The United States and China are set to collaborate on managing artificial intelligence risks while maintaining a clear view of their fundamental differences, according to US Treasury Secretary Scott Bessent. Speaking on Tuesday at the National Committee on US-China Relations' 60th Anniversary Gala Dinner in New York, Bessent revealed that the new dialogue on AI was initiated under the direction of President Donald Trump to minimize shared risks and prevent systemic misunderstandings.
As part of the AI initiative, the two global powers plan to share best practices for evaluating and testing advanced models prior to public release. Bessent emphasized the goal of keeping human judgment firmly in command of the technology. Furthermore, Washington and Beijing are establishing a direct communications channel allowing either side to swiftly notify the other regarding serious incidents involving their AI models. However, Bessent acknowledged ongoing tension between the nations, stating, “We should harbor no illusions about the differences between the United States and China. Our interests will not always coincide, and our approach to every challenge likewise will not always converge.”
Addressing economic friction, Bessent noted that trade imbalances have long caused strain, arguing that President Trump took decisive action to confront practices tolerated by previous politicians. “Let me state firmly and unequivocally tonight, as we work toward a more balanced relationship, our objective is to de-risk, not to decouple,” he asserted. He pointed out that while the US economy relies excessively on foreign supply, China's economy remains overly dependent on foreign demand, adding, “In other words, the United States must produce more of what we consume, while China must consume more of what it produces.” Bessent noted that mutual efforts could fortify both economies without continuing structural imbalances.
Bessent emphasized that the Trump administration's focus on domestic economic strength should not be interpreted as hostility toward trade partners. “After decades of imbalance, we are restoring a spirit of reciprocity for the benefit of both our peoples,” he said. Looking ahead to upcoming diplomatic engagements, Bessent announced that he will travel with Trump to Shenzhen next week for talks with Chinese President Xi Jinping. That gathering will precede a planned fourth meeting between the leaders in Miami. According to Bessent, “President Trump and President Xi agree that the United States and China should build a constructive relationship on the basis of balance and reciprocity.”
