Latest / GNN Daily Breaking News / Treasury’s Bessent Plans Talks With China On AI, Rare Earths

Transcript

Treasury’s Bessent Plans Talks With China On AI, Rare Earths · GNN Daily Breaking News

• 0:00
  Speaker 1: The U.S. Treasury's chief, Scott Besant, is expected to hold
• 0:04
  Speaker 1: direct talks with Chinese Vice Premier He Lefeng this week,
• 0:08
  Speaker 1: focusing on artificial intelligence and rare earth minerals, according to
• 0:13
  Speaker 1: sources familiar with the discussions. The meeting underscores how economic
• 0:17
  Speaker 1: diplomacy is increasingly shaped by technology competition and resource security,
• 0:23
  Speaker 1: as Washington and Beijing seek to manage tensions while protecting
• 0:28
  Speaker 1: strategic interests. Rare earths, critical minerals used in semiconductors, batteries,
• 0:34
  Speaker 1: and defense systems have long been a flashpoint in U.S.-China relations.
• 0:39
  Speaker 1: China dominates global production, and American officials worry about supply
• 0:44
  Speaker 1: vulnerabilities that could undermine both national security and industrial competitiveness.
• 0:50
  Speaker 1: Besant is expected to press for assurances on supply stability
• 0:54
  Speaker 1: while exploring avenues for diversifying sourcing and investment. Artificial intelligence
• 1:00
  Speaker 1: is another sensitive area. The U.S. has tightened export controls
• 1:04
  Speaker 1: on advanced chips and AI technologies to limit China's military applications,
• 1:10
  Speaker 1: while Beijing has accelerated domestic development to reduce reliance on
• 1:14
  Speaker 1: American firms. Treasury officials say the talks will focus on
• 1:19
  Speaker 1: establishing guardrails to prevent escalation while also exploring potential cooperation
• 1:25
  Speaker 1: in non-sensitive areas such as healthcare and climate modeling. The
• 1:29
  Speaker 1: meeting comes amid broader efforts by the Trump administration to
• 1:33
  Speaker 1: balance confrontation with dialogue. While tariffs and sanctions remain central
• 1:38
  Speaker 1: to U.S. policy, officials recognize that direct engagement with Chinese
• 1:43
  Speaker 1: counterparts is necessary to avoid miscalculation. For Beijing, the talks
• 1:49
  Speaker 1: offer a chance to push back against restrictions and highlight
• 1:52
  Speaker 1: its role as a global supplier of critical resources. Analysts
• 1:56
  Speaker 1: note that the outcome could shape both economic and geopolitical dynamics.
• 2:01
  Speaker 1: A breakthrough on rare earths would ease pressure on US industries,
• 2:05
  Speaker 1: while progress on AI dialogue could reduce risks of technological decoupling.
• 2:11
  Speaker 1: Yet expectations remain cautious, with both sides wary of appearing
• 2:16
  Speaker 1: to concede ground. The Besanty meeting reflects the reality that U.S.-China
• 2:21
  Speaker 1: competition is no longer confined to trade disputes. It now
• 2:25
  Speaker 1: spans the technologies and resources that will define global power
• 2:29
  Speaker 1: in the decades ahead.