During a recent visit to Beijing, US Treasury Secretary Scott Bessent revealed that the United States and China are engaging in talks to establish 'guardrails' for artificial intelligence (AI) usage. This initiative is a response to increasing calls for regulation of AI technology, which is advancing rapidly. Bessent noted that while China is significantly behind the US in AI capabilities, it possesses a highly developed AI industry. The discussions aim to create a protocol that ensures non-state actors do not gain access to advanced AI models. He expressed satisfaction with how US tech companies have managed AI rollouts thus far, emphasizing that the US will leverage its lead in AI to implement 'best practices' and 'values' in shaping global standards for AI technology. These discussions occur against a backdrop of ongoing trade disputes, particularly concerning US export controls on advanced AI technology to China.