Scoop: U.S. open to discuss AI "shared risks" with China, Bessent says

The U.S. is open to discussing shared risks with China in upcoming AI talks this weekend, Treasury Secretary Scott Bessent told Axios. Why it matters: The Trump administration has flatly rejected calls from industry to pace or slow down the development of AI, citing a fierce race against China. Bessent's scheduled meeting with Chinese Vice Premier He Lifeng could provide an opening for talks on U.S.-China AI safety cooperation. "The United States remains the leader in AI. And we are open to discussions on avoiding shared risks and avoiding bifurcation of our two systems. We expect our discussions to cover both open and closed weight models," Bessent said in a statement to Axios. "Bessent and [United States Trade Representative Jamieson Greer] are the point guys on China. So it makes sense the secretary is in this position," a senior administration official said. Driving the news: There will be multi-hour meetings in New York City, focused on AI, trade, rare earths, and other economic issues, building on previous discussions held in cities around the world, sources familiar said. The agenda will remain flexible to allow for substantive discussion across the range of relevant issues, sources added. Possible working-level meetings will continue into Monday, sources said. Catch up quick: Bessent has played a key role in the Trump administration's AI agenda. He was among the few cabinet members who flanked President Trump during a G7 press conference in June, where top AI CEOs and the administration discussed a U.S.-led effort to coordinate global AI standards. Bessent also helped cool Anthropic's relations with the administration following a fallout with the Pentagon and is viewed as a reasonable actor who is trusted by the private sector and critical infrastructure operators, sources familiar have previously told Axios. Commerce Secretary Howard Lutnick led high-profile AI discussions during the G20 summit in North Carolina earlier this month, while Bessent is taking the lead on talks with China. The big picture: Bessent's meetings in New York come days before Trump and Chinese President Xi Jinping's summit in Washington on Sept. 24. AI CEOs have been calling for U.S.-China coordination on safety standards. "All parties should jointly promote the open and inclusive development of AI for good and for all," the Chinese Foreign Ministry said this week, while pushing back on U.S. AI companies' calls to slow down and warning against "fear-mongering." The bottom line: While a major breakthrough in U.S.-China safety cooperation remains a tall order, Bessent's involvement signals room for engagement on AI between the competing countries.

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