'Shared risks': Scott Bessent opens door to China talks as Trump calls AI fears a 'hoax'

WASHINGTON, DC: Treasury Secretary Scott Bessent said the United States is open to discussing “shared risks” with China in upcoming AI talks, contrasting with President Donald Trump’s dismissal of AI safety fears as a “hoax.”

The Treasury secretary is set to meet Chinese Vice Premier He Lifeng as the countries discuss AI, trade, rare earths, and other economic issues.

Bessent made the remarks in a statement to Axios published on Wednesday, September 16, ahead of meetings scheduled in New York City this weekend.

Scott Bessent says AI risks are on the table

“The United States remains the leader in AI, and we are open to discussions on avoiding shared risks and avoiding bifurcation of our two systems,” Bessent said in a statement to the outlet. 

“We expect our discussions to cover both open and closed weight models,” he added.

The meetings are expected to build on previous US-China discussions held in cities around the world, with the agenda remaining flexible for talks, as per the report.

Possible working-level meetings could continue into Monday, according to sources familiar with the plans, the report said.

Bessent and United States Trade Representative Jamieson Greer are the administration’s “point guys on China,” a senior administration official said, explaining why Bessent is taking a role in the discussions.

The opening for AI discussions comes as the Trump administration has rejected calls from industry to pace or slow AI development, citing competition with China.

Trump has dismissed concerns over AI safety. 

In social media posts, he called those fears a “hoax” and said the only guardrails needed for AI were a “strong and smart” president.

Trump rejects calls for tighter AI guardrails

Trump compared AI safety warnings to what he called the “Global Warming Scam” and the “RUSSIA, RUSSIA, RUSSIA HOAX.” 

He also wrote that there was a “SICK conspiracy” against AI and data centers, saying, “WHOEVER WINS AI, WINS!”

His comments came after Anthropic co-founder Jack Clark said a third-party-checked “kill switch” for AI systems may eventually need to be mandatory, as per the BBC report.

Clark said most AI labs already have ways to shut down their systems, including Anthropic, but lawmakers may need to require one, the outlet reported. 

Anthropic CEO Dario Amodei has called for slower, more closely monitored AI development, while saying any effort to rein in AI should occur “without sacrificing commercial advantage.”

Other industry figures have backed calls for greater safeguards. 

OpenAI CEO Sam Altman and xAI CEO Elon Musk have said they agree with proposals for industry-wide deceleration, regulation and independent monitoring, the report said.

China also signals interest in AI coordination

Chinese officials have also discussed cooperation while pushing back against calls to slow AI development. 

The Chinese Foreign Ministry said, as per Axios, “All parties should jointly promote the open and inclusive development of AI for good and for all.”

Chinese state media quoted Fudan University professor Xin Qiang as saying Washington’s concern over China’s AI development may be affecting its policy priorities, according to the BBC.

He said US officials worry that slowing development or tightening regulation could allow China to catch up faster.

Bessent’s meetings are scheduled days before Trump and Chinese President Xi Jinping’s summit in Washington on September 24.