U.S. Treasury's Bessent plans to discuss AI and rare earths with China's He: report

U.S. Treasury Secretary Scott Bessent intends to delve into discussions surrounding artificial intelligence (AI), trade, rare earths, and broader economic matters during an upcoming meeting with Chinese Vice Premier He Lifeng. This encounter is anticipated to take place in New York City this weekend, preceding a significant summit between U.S. President Donald Trump and Chinese President Xi Jinping scheduled for September 24 in Washington, D.C.

The significance of these deliberations stems from the fact that both the United States and China are spearheading the advancement and widespread adoption of cutting-edge AI technologies. Rare earths, meanwhile, serve as indispensable components in the production of various technologies. In preparation for these talks, Bessent recently shared in a statement that he anticipates addressing both open- and closed-weight AI models.

Open-weight models refer to AI systems with publicly accessible core elements, allowing users to download and customize them for specific tasks. Chinese open-weight models have gained traction among U.S. companies owing to their potential cost-effectiveness compared to other AI tools developed by U.S. companies like Anthropic and OpenAI.

Moreover, these Chinese AI models have even been utilized by the U.S. government, as reported by Reuters on September 17, 2026. An instance cited involved a U.S. government website employing an AI model from a Chinese company to facilitate user searches for proposed federal regulations, despite the FBI alleging that the model's developer, Alibaba, had engaged in "malicious" copying of technology from Anthropic.