Treasury Secretary Scott Bessent said Sunday that the United States has proposed a new "notification mechanism" for artificial intelligence incidents that could affect national security, as part of weekend discussions ahead of Thursday's White House summit between President Donald Trump and Xi Jinping.
"We want a shared vision of common goals and threats," Bessent told reporters after meeting with Chinese Vice Premier He Lifeng in New York. "We believe that, as with any cross-border activity, it is essential to move from opacity to greater transparency between the world's first and second powers in artificial intelligence."
Trump has resisted calls to slow down AI development, arguing that doing so would help China catch up with American companies.
Meeting in the grand lobby of JPMorgan Chase's headquarters Sunday evening, Bessent and U.S. Trade Representative Jamieson Greer said the groundwork had been laid for the talks between Xi and Trump, scheduled for Thursday. They indicated that both sides had agreed to launch a new "Trade Exchange," a project the two leaders had discussed during their meeting in Beijing in May.
"Today those ideas have become a reality," Greer said.
Greer said the countries were still debating which "non-sensitive" items could qualify for lower tariffs, but that the list could include consumer and agricultural goods, energy products, and medical devices.
According to China's state news agency Xinhua, Bessent and the vice premier spoke about topics "related to AI" without mentioning specific details, and also held "candid, in-depth and constructive" talks on key economic and trade issues.
"The fact that both sides have agreed to continue the dialogue is significant," said George Chen, partner and head of digital at consulting firm The Asia Group, in a written statement. "The initial outcome — an AI risk notification mechanism — sets a precedent that other countries could follow."
