U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. File
| Photo Credit: Reuters
U.S. Treasury Secretary Scott Bessent plans to discuss AI, trade, rare earths and economic issues when he meets with Chinese Vice Premier He Lifeng in New York City this weekend, according to a source familiar with his plans.
The discussions are significant because the U.S. and China are the two major forces driving development of advanced AI tools and the global adoption of the technology. Rare earths play a crucial role in the manufacturing of technology.
Mr. Bessent and Mr. He will meet ahead of a summit between U.S. President Donald Trump and Chinese President Xi Jinping on September 24 in Washington.
Mr. Bessent said in a statement that he expects the discussions to cover “both open- and closed-weight models.” Open-weight models are AI systems with publicly accessible core elements. Users can download and fine-tune them for specific tasks.
Chinese open-weight models are becoming more popular with U.S. companies because they can be cheaper than so-called closed-weight AI tools, such as those developed by Anthropic, OpenAI and other U.S. companies.
Chinese AI models have even been used by the U.S. government. Reuters reported on Thursday (September 17, 2026) that a U.S. government website employed an AI model from a Chinese company to allow users to search proposed federal regulations even though the FBI accused the model’s developer, Alibaba, of “malicious” copying of Anthropic’s technology.
Published – September 19, 2026 01:50 am IST
