Treasury Secretary Scott Bessent stood firm on the Trump administration’s stance on artificial intelligence during a House Financial Services Committee session. As concerns mount over AI safety, Bessent dismissed industry leaders’ calls to curb AI development, stating that companies have the autonomy to decelerate their advancements. His statement comes amid increasing pressure from lawmakers like Representative Maxine Waters, who criticized the administration’s aggressive push for AI and data center expansion without sufficient safety mechanisms.
Recently, major US AI executives have advocated for slowing down the development of advanced models, citing safety risks. However, Bessent defended the administration, suggesting it has been vigilant in examining AI models. According to him, efforts to scrutinize these models began over five months ago, ensuring that the potential risks are addressed.
Apart from regulating AI, Bessent has also taken steps to boost the financial sector’s defenses against advanced AI infiltrations. Under his leadership, the Treasury has initiated a clearinghouse for financial services companies to share strategies for strengthening cyber defenses. As the administration continues to prioritize AI leadership, both Bessent and President Trump portray this endeavor as crucial in maintaining US technological supremacy, particularly against China.
President Trump recently downplayed warnings about AI, labeling them as a “hoax.” The administration views AI regulations as part of a broader battle in the tech arms race with China. Bessent has sternly warned that if China overtakes the US in AI dominance, it could spell disaster for the nation, stressing the urgency of maintaining the US lead.
As the US gears up for high-level diplomatic discussions, AI is expected to feature prominently when President Trump meets with Chinese President Xi Jinping later in the month. In preparation for the summit, Bessent plans a meeting with his Chinese counterpart, He Lifeng, underscoring the ongoing dialogue between the two nations on AI matters.
The urgency and complexity of the AI debate underscore the global implications of technological advancements. While safeguards remain a pressing concern, the geopolitical stakes tied to AI dominance underline the necessity of maintaining a strategic edge. As the administration persists with its AI agenda, achieving equilibrium between innovation and safety will be central to future policymaking decisions.
You can read the original article here: https://www.politico.com/news/2026/09/15/bessent-artificial-intelligence-companies-trump-china-01077061
