Bessent Says US-China Ties Are Improving, Signals AI Cooperation and Economic Rebalancing

U.S. Treasury Secretary Scott Bessent offered an upbeat assessment of improving ties between Washington and Beijing ahead of President Donald Trump’s trip to China, signaling broader cooperation in artificial intelligence.

Bloomberg reported on November 10 that Bessent, speaking at a National Committee on U.S.-China Relations event in New York, said “the leaders of our two countries have never met this frequently in person over the course of a single year.” More important, he added, those meetings are building mutual understanding.

Trump is set to attend the Asia-Pacific Economic Cooperation summit in Shenzhen, China, next week, where he is expected to hold his third summit this year with Chinese President Xi Jinping. Bessent will join the trip, and the two leaders also plan additional talks later at the Group of 20 summit in Miami.

Bessent placed particular emphasis on closer communication over AI technology. Trump and Xi have established a new dialogue channel on superintelligence aimed at managing shared risks and preventing misunderstandings between the two countries’ systems.

The two sides will also share best practices for evaluating and testing advanced AI models before their release and discuss ways to preserve human control over the technology.

Chinese Ambassador to the U.S. Xie Feng likewise stressed that joint efforts by both countries are essential to improve the AI regulatory framework. Bessent said that after agreeing in September with Chinese Vice Premier He Lifeng to create an AI consultation channel, the two sides are also building a direct communication system to quickly notify each other if a major AI-related incident occurs.

In the economic arena, Bessent pointed to supply chains and trade imbalances as key issues. The U.S. is not trying to sever ties with China but to reduce risk, he said. The U.S. should produce more of what it consumes, while China should consume more of what it produces.

The two countries recently agreed to suspend high reciprocal tariffs until January, but their trade conflict has not been fully resolved. The U.S. is pressing China to follow through on agreements covering agricultural purchases and critical minerals, including rare earths. China, for its part, has raised concerns over U.S. trade and economic restrictions.

The trip also comes as controversy grows over allegations involving Nvidia CEO Jensen Huang and a person suspected of spying for China. Huang accompanied Trump on his visit to China in May, but Bessent did not address the matter in his November 10 speech.