The United States and China are scheduled to hold discussions on artificial intelligence in September, with Treasury Secretary Scott Bessent leading the US delegation. The talks aim to address key issues surrounding AI technology and its regulation, representing a significant step in bilateral technological engagement. The precise location and the detailed agenda for the upcoming meeting remain under deliberation by officials from both nations.

The involvement of Treasury Secretary Bessent underscores the high priority the US administration places on these discussions. As the leader of the delegation, Bessent is expected to outline the American stance on AI development, safety protocols, and economic implications. The selection of a Treasury official to lead the talks suggests a focus on the financial and economic dimensions of artificial intelligence policy.

While the core topics for the agenda have not been finalized, the dialogue is anticipated to cover areas such as ethical standards, technological competition, and potential frameworks for international cooperation. Both countries have been advancing their AI capabilities rapidly, making these talks a critical platform for managing competition and identifying common ground.

The logistical details, including the venue, are still being worked out. Diplomatic channels are active in determining a suitable location that accommodates both delegations and facilitates a constructive dialogue. The timing of the talks in September provides a window for preparatory work to ensure that the meeting yields substantive outcomes.

These discussions come at a time of heightened technological rivalry between the two global powers. The outcome of the September meeting could set the tone for future interactions on technology policy and economic cooperation in the AI sector.

President Donald Trump announced Tuesday that generic drugs imported into the U.S. will remain exempt from tariffs for two years before facing duties of up to 200%, as his administration seeks to push pharmaceutical manufacturing back to the U.S. Beginning August 1, imported generic medicines will continue to face a 0% tariff for two years before duties increase to 100% for one year and then 200%, according to a post by Trump on Truth Social.

Tariff Schedule and Objectives

Trump said the policy is designed to encourage drugmakers to relocate generic pharmaceutical manufacturing to the U.S., with companies that fail to build domestic plants during the transition period facing penalties. "This is done in order to RESHORE Generic Pharmaceutical Production into America," Trump added. Generic drugs account for more than 90% of prescriptions filled in the U.S., according to the Food and Drug Administration.

Expansion of Manufacturing Strategy

The generic drug policy expands on the administration’s earlier strategy for branded and patented medicines, under which major drugmakers agreed to lower prices in exchange for temporary tariff exemptions. In December, nine drugmakers, including Bristol Myers Squibb Co., Merck & Co. Inc., Novartis AG, Amgen Inc. and GSK plc, committed to bringing U.S. drug prices more in line with those in other developed countries.

Johnson & Johnson committed to new manufacturing investments under those agreements earlier this year, while Merck pledged more than $70 billion toward domestic research and production. Trump said pharmaceutical facilities are now being built across the U.S. "at a level never seen before."