Key points
- Additionally, companies in the European Union would purchase what Trump said was $750 billion (638 billion euros) worth of natural gas, oil and nuclear fuel over three years to replace Russian energy supplies that Europe is seeking to exit anyway.
- Meanwhile, European companies would invest an additional $600 billion (511 billion euros) in the U.S. under a political commitment that isn’t legally binding, officials said.
- Trump said that the 50% U.S. tariff on imported steel would remain.
U.S. Treasury Secretary Scott Bessent said on Wednesday that both countries should pursue dialogue on the potential risks associated with advanced artificial intelligence while recognising their continuing competition for global technological leadership.
Speaking ahead of the planned November 18–19 meeting in Shenzhen, Bessent indicated that Washington and Beijing could establish a bilateral dialogue focused on what he described as superintelligence. The discussions are expected to examine how both countries can manage the risks associated with increasingly advanced AI systems.
According to Reuters, the proposed dialogue could involve exchanging information about testing advanced AI models, maintaining human oversight and establishing communication channels for reporting serious technological incidents.
Bessent stressed that cooperation on artificial intelligence risks would not eliminate the strategic differences between the two countries. The United States and China remain competitors in semiconductor development, advanced computing, technological innovation and international trade.
Trade relations are also expected to feature prominently in the upcoming presidential meeting. Washington has been seeking a more balanced economic relationship with Beijing, particularly concerning market access, agricultural purchases, critical minerals and tariffs.
The two countries have previously discussed establishing mechanisms to address trade disagreements and improve investment conditions. However, disagreements over technology restrictions and economic policies continue to complicate their relationship.
The proposed AI discussions reflect growing recognition that advanced technologies could create risks extending beyond national borders. Issues involving cybersecurity, autonomous systems and the development of increasingly powerful AI models are becoming important subjects for international policymakers.
For the Trump administration, maintaining America's technological advantage while exploring limited cooperation with Beijing presents a significant diplomatic challenge.
The upcoming meeting between Trump and Xi could therefore become an important moment for both countries as they attempt to balance economic competition, technological development and international security.
