Treasury Secretary Scott Bessent said the Trump administration has formalized talks with Beijing, called the USA-China AI Dialogues, to bring transparency and open communications between the American and Chinese artificial intelligence industries.

“We think that, just like with any cross-border activity, that moving from opaque to more transparency between the No. 1 and the No. 2 AI powers in the world is very important,” Bessent told reporters on Sunday, following talks between the two world powers in New York City.