Authored by Tom Ozimek via The Epoch Times(emphasis ours),

Treasury Secretary Scott Bessent said on May 14 thatWashington and Beijing would begin formal discussions on artificial intelligence (AI) safety protocolsfollowing meetings between U.S. President Donald Trump and Chinese leader Xi Jinping in Beijing. Bessent’s comments come as the rival powers sought to stabilize ties strained by trade disputes, the Iran conflict, and AI competition.

Speaking to CNBC from the sidelines of the Trump–Xi summit, Bessent said the United States and China—which he described as the world’s “two AI superpowers”—were preparing to establish a framework on AI best practices and safeguards aimed at preventing advanced models from falling into the wrong hands.

“The two AI superpowers are going to start talking,” Bessent said.

“We’re gonna set up a protocol in terms of how do we go forward with best practices for AI to make sure non-state actors don’t get a hold of these models.”

Bessent said the United States would seek to embed “U.S. values” and American-led best practices into emerging global AI standards, adding that Washington was engaging Beijing from a position of technological strength.

“The reason we are able to have fulsome discussions with the Chinese on AI is because we are in the lead,” he said. “I do not think we would be having the same discussions if they were this far ahead of us.”

The remarks came as Trump and Xi concluded the first major round of meetings during Trump’s two-day visit to Beijing, his first trip to China since returning to office for a second term.

In a White House readout issued after the meeting, Washington said the leaders discussed expanding economic cooperation, increasing Chinese investment in the United States while expanding market access for American businesses into China, boosting Chinese purchases of U.S. agricultural products, and maintaining freedom of navigation through the Strait of Hormuz.

A subsequent White House readout said both countries agreed thatthe Strait of Hormuz must remain open to “support the free flow of energy.”The strait is a key maritime chokepoint that normally handles around one-fifth of global energy shipments but has been heavily restricted by Iran amid its war with the United States and Israel.

Source: ZeroHedge News