U.S. Treasury Secretary Scott Bessent said his recent talk with Chinese officials on AI, trade, and investment was "very successful," ahead of the upcoming Trump-Xi meeting in Washington this week.
According to Bloomberg, Bessent and China's Vice Premier He Lifeng agreed to establish a dialogue to exchange perspectives on shared objectives and risks after hours of talks in New York.
The Treasury Secretary added that the U.S. has proposed a "notification mechanism" between the two countries and said he wants them to have a "shared vision" of common goals and threats in AI development.
Bessent and He plan to meet again, while top Chinese trade negotiator Li Chenggang said the working group would continue on Monday. Li also reportedly said that discussions were held in a good atmosphere.
According to U.S. Trade Representative Jamieson Greer, the two sides are laying the groundwork for a successful meeting between President Donald Trump and Chinese President Xi Jinping on Sept. 24.
Amid a growing call for an AI slowdown, Trump has rejected the idea, calling the AI-led existential-risk talk a "hoax" that would help China gain the lead in the frontier AI race.
Meanwhile, in his July speech at the World AI Conference, Xi called for continued AI development that centers on open-source and collaboration. The Chinese President also said countries should strengthen risk awareness in AI to maintain a secure and controllable environment.