Trump-Xi Talk AI, Xi Calls for US to Oppose Taiwan Independence, More
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News When You Want It with Bloomberg News Now, I'm Doug Krisner. President Trump and Chinese President Xi Jinping addressed the competition between the US and China today over artificial intelligence. At the summit of these two leaders, Trump argued for unfettered development of AI. However, she indicated an openness to setting boundaries and ensuring the development of AI is always under human control. Here is Bloomberg's Mike Shepherd.
China certainly has raised its own safety questions toward the US, especially with the development of advanced models like Mythos, which have that uh super capability uh to break into almost any system, at least according to Anthropic. So we do see a little bit of divergence between the two leaders there, but that does not mean that there will be any sort of grand bargain coming out of this on AI.
That is Bloomberg's Mike Shepherd. At the same time today, President Trump hailed what he called a truly great friendship with Xi Jinping, and she said he is willing to create a more stable, sustainable and healthier future for US China relations. Here is Montana Republican Senator Stephen Danes.
I think when you step back, it's just very important to remember that the United States and China are the two largest economies in the world by far. They comprise about 42% of the world's GDP. It's the world's two largest militaries. Of course, the two countries that have leadership in terms of frontier models of AI. So I look at this relationship as really too big to fail.
That was Montana Republican Senator Stephen Danes. Separately today, China's Xinhua News Agency reported President Qi saying the U.S.
What did Trump and Xi say about AI competition and regulation?
should adhere to the correct position on opposing Taiwan's independence. Negotiators for the U.S. and Iran are exploring a phased deal to reopen the Strait of Hormuz. This would include the U.S. lifting its naval blockade of Iranian ports. Now Qatari officials Russell's mediated negotiations on the sidelines of the UN's General Assembly. We are told the deal would be similar to the memorandum of understanding struck in mid-June, although that did collapse just weeks later. Here is Bloomberg's Dina Isfondiary.
If this goes through, um, and I have to say I'm quite skeptical, it's definitely good news. Um, but it would be temporary and there would be a lot of scope for it not to be implemented properly. And that really is what I'm worried about, because I think that neither side right now, uh, not the Americans, not the Iranians, neither side is really ready to make the concessions necessary in order for the war to end in a lasting manner, and that's the problem.
That is Bloomberg's Dina Esfondiary. Interestingly today, a White House official said President Trump does remain open to talking with Iran, although he doesn't need to negotiate because the US is in a strong position. The Republican controlled Senate defeated a Democratic resolution to end the war in Iran in a very close vote forty nine to fifty, more from Bloomberg's Amy Morris.
The vote was largely symbolic, but it was also seen as a chance for vulnerable Republicans to distance themselves from the war ahead of the midterms. Several Republicans said they would like to see the war end quickly, but they're not yet willing to rein in Trump's power to wage it. Most Republican senators facing voters in the fall opposed the resolution. Voters are anxious about the war driving up prices. and endangered GOP lawmakers increasingly fear a voter backlash in the election. In Washington, Amy Morris, Bloomberg Radio.
Crude oil prices rallied after tensions flared in the Middle East. Saudi Arabia said it intercepted six ballistic missiles launched by Houthi militants. WTI was up two point seven percent in New York trading to ninety-four sixty-one, and those higher oil prices helped to push yields up across the Treasury curve. The worry is over persistent inflation and an aggressive response from the Fed.
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