U.S. Treasury Secretary Scott Bessent described his recent meeting with Chinese Vice Premier He Lifeng as "successful," marking a key step in preparations for the upcoming summit between President Donald Trump and Chinese President Xi Jinping scheduled for September 24 in Washington, D.C.

The discussions focused on enhancing cooperation on artificial intelligence (AI) and trade issues, among other topics. Bessent highlighted a proposal from the U.S. to establish a "U.S.-China AI Dialogue," aimed at creating a notification mechanism for AI-related incidents that could escalate to a national security concern. He emphasized the importance of transparency between the two nations, which he described as the “number one and the number two AI powers in the world.”

“This notification mechanism would allow for communication on incidents rising up to a national security level from AI,” Bessent said, stressing the need for increased openness in their bilateral AI activities to avoid misunderstandings or conflicts.

Alongside Bessent, U.S. Trade Representative Jamieson Greer also spoke about the progress made during the meeting. Greer noted that the two countries have begun to operationalize the U.S.-China Board of Trade, which is intended to facilitate ongoing trade negotiations and improve bilateral economic ties.

The dialogue comes amid heightened tensions over technology and trade between the United States and China, and follows months of negotiation aimed at resolving outstanding issues prior to the leaders’ summit. The establishment of mechanisms addressing AI and trade reflects efforts by both sides to manage competition and mitigate risks in these critical sectors.

The forthcoming summit is viewed as a pivotal moment for U.S.-China relations, with both governments hoping to avoid escalation on economic fronts while laying groundwork for continued dialogue on technological cooperation and security.