Global
U.S. Treasury Secretary Scott Besant emphasized on Wednesday the necessity of cooperation between the United States and China to mitigate the risks of artificial intelligence, noting that such cooperation does not eliminate the competition between the two countries in the technology sector. In remarks prepared for delivery before the National Committee on U.S.-China Relations in New York, Besant stated that Washington seeks balanced relations with Beijing based on reciprocity, despite ongoing disagreements on several strategic issues. He added that both countries intend to launch a dialogue on advanced AI technologies aimed at reducing shared risks and avoiding misunderstandings, with an exchange of expertise in evaluating and testing models prior to deployment, ensuring continued human oversight. Besant pointed out that the two sides agreed to establish a direct communication channel to report serious AI-related incidents. He also clarified that technological competition between Washington and Beijing does not prevent cooperation in areas requiring joint coordination, affirming that differences in interests and strategic directions persist. On the economic front, he referred to an agreement to create a trade council to discuss reducing tariffs on goods worth $30 billion in each direction, alongside an investment council to discuss American companies' access to Chinese markets. He stressed that the United States aims to reduce risks in its trade relations with China rather than end economic ties between the two nations. These statements come ahead of a planned visit by the U.S. president to China to participate in the Asia-Pacific Economic Cooperation (APEC) summit on November 18-19, where he is expected to meet the Chinese president to discuss shared economic and technological issues.
