The United States has proposed a new notification mechanism for artificial intelligence incidents that could affect national security, Treasury Secretary Scott Bessent announced Sunday following discussions with Chinese Vice Premier He Lifeng in New York.
The initiative sets groundwork for talks scheduled Thursday at the White House between President Donald Trump and China's President Xi Jinping.
Bessent emphasized the importance of clarity in AI development. "We want a shared vision of common goals and common threats," he said. "Moving from opaque to more transparency between the No. 1 and the No. 2 AI powers in the world is very important."
Trump has previously resisted calls to slow down AI development within the U.S. arguing that such a slowdown would only help China catch up to American companies.
Bessent and U.S. Trade Representative Jamieson Greer addressed reporters Sunday evening from JPMorgan Chase headquarters, confirming that preparations for the Trump-Xi meeting were complete.
The two sides also agreed to operationalize a new "Board of Trade," a body initially discussed by Trump and Xi during their Beijing meeting in May.
"Today those notions have become reality," Greer said. The establishment of this board marks a concrete step in bilateral trade relations.
Discussions continued regarding potential tariff reductions. Greer indicated that the countries are still identifying "nonsensitive" items that could be considered for lower tariffs, including consumer and agricultural products, energy products and medical devices.
