US Treasury secretary also warns there will be retaliation against any attempt to ‘weaponise supply chains’
artificial intelligencewas the “biggest risk” of the technology – outweighing concerns over safety or job losses.
“The biggest risk to AI is China getting ahead of us,” Bessent said at the Economic Club of New York, adding that China’s willingness to discuss AI underscored America’s technological lead.
“I am one of the point people on our AI policy. I am the point person in terms of the economic relationship with China,” he said.
“I could tell you that the reason the Chinese are willing to have a discussion on AI is because we are ahead, so we have to stay ahead.”
[Both countries](https://www.scmp.com/topics/us-china-relations?module=inline&pgtype=article)agreed to hold formal discussions on AI governance following
[talks](https://www.scmp.com/topics/2026-xi-trump-summits?module=inline&pgtype=article)between US President Donald Trump and Chinese leader Xi Jinping in Beijing last month.
Chinese foreign ministry spokesman Guo Jiakun said in May: “As two leading AI powers, China and the United States need to work together to promote the development and improve the governance of AI to make sure that it will better contribute to the progress of human civilisation and common welfare of the international community.”