US, China to cooperate on AI risks while managing differences: US Treasury secretary

The United States and China will cooperate on managing risks from artificial intelligence but should not overlook their differences, US Treasury Secretary Scott Bessent said on Tuesday.

Speaking at the National Committee on US-China Relations' 60th Anniversary Gala Dinner in New York, Bessent said the US and China had, at President Donald Trump's direction, begun a new dialogue on AI to manage shared risks and prevent misunderstandings between their systems.

“We also expect to exchange best practices for evaluating and testing advanced models before their release and for keeping human judgment firmly in command of this technology,” he said.

The two countries are establishing a direct channel through which either side can promptly alert the other to serious incidents involving its AI models, he added.

“We should harbor no illusions about the differences between the United States and China,” Bessent said. “Our interests will not always coincide, and our approach to every challenge likewise will not always converge.”

Addressing trade imbalance

Bessent said the trade imbalance between the two countries had long been a source of friction.

“The US trade imbalance with China has long been a source of friction, and unlike a political class that tolerated China’s practices, President Trump has taken decisive steps to address them,” he said.

“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 added.

Bessent said the US economy had become too dependent on foreign supply, while China's economy had grown increasingly reliant on foreign demand.

“In other words, the United States must produce more of what we consume, while China must consume more of what it produces,” he said.

“Working together, we can strengthen both of our economies without perpetuating the imbalances between them.”

He said the Trump administration's renewed emphasis on economic strength did not reflect hostility towards its trading partners.

“After decades of imbalance, we are restoring a spirit of reciprocity for the benefit of both our peoples,” Bessent said.

Bessent said he would join Trump in Shenzhen next week for a meeting with Chinese President Xi Jinping, ahead of a planned fourth meeting between the two leaders in Miami.

“President Trump and President Xi agree that the United States and China should build a constructive relationship on the basis of balance and reciprocity,” he said.

TRT World / Anadolu Agency — TRT World / Anadolu Agency

Photo: AP