US Treasury’s Bessent plans to discuss AI and rare earths with China’s He, source says
US Treasury Secretary Scott Bessent is set to meet Chinese Vice Premier He Lifeng in New York City on September 18, where discussions will include AI, trade, rare earths, and other economic matters, according to a source familiar with the plans. The US and China are leading forces in AI development, and rare earths are essential for technology manufacturing.
Bessent and He will meet before a September 24 summit between US President Donald Trump and Chinese President Xi Jinping. Bessent expects to discuss both open- and closed-weight AI models, with Chinese open-weight models gaining popularity among US companies for their cost-effectiveness. The US remains the AI leader, and Bessent has called for AI "guardrails" to prevent powerful models from falling into the wrong hands.
The meeting could extend to Monday, with additional topics such as potential tariff truce extension and improved flows of rare-earth magnets and critical minerals from China.
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