US and China agree to launch AI dialogue ahead of summit

US and China agreed Sunday to establish a "US-China AI dialogue" to communicate on shared concerns, announced US Treasury Secretary Scott Bessent after talks with Chinese Vice Premier He Lifeng in New York. The move sets the stage for a Thursday White House summit between President Donald Trump and President Xi Jinping. Bessent said the dialogue aims to increase transparency between the world's top two AI powers, proposing a notification mechanism for potential incidents that could rise to a national security level. Both sides also agreed to operationalise a "Board of Trade" first discussed in May, and to meet again on the AI issue. The agreement comes amid rising fears that advanced AI systems could threaten humanity, offering rare cooperation despite an intensifying tech race. Chinese state media called the talks "candid, in-depth, and constructive," while Trump has resisted slowing AI development, arguing it would help China catch up.