The United States and China should harbor no illusions about their differences on artificial intelligence as they navigate cooperation to mitigate the technology's risks while competing for AI supremacy, US Treasury Secretary Scott Bessent said on Tuesday.

Bessent, who will travel to China next week for US President Donald Trump's third meeting this year with Chinese President Xi Jinping, said in prepared remarks to the National Committee on US-China Relations in New York that he wanted to "build a constructive relationship on the basis of balance and reciprocity."

The meeting in Shenzhen, to be held on the sidelines of the November 18-19 Asia-Pacific Economic Cooperation leaders' summit, will advance a new bilateral dialogue on "superintelligence", or SI, Bessent said, using the Trump administration's preferred term for the technology. (RTRS – Continue Reading)

Policymakers from the UK, US and eurozone gathered in London laid the groundwork for further interest-rate hikes, as a leading think tank warned the Bank of England may have to raise borrowing costs to 5%.

Traders ramped up bets on more tightening before the end of the year after central bank officials signaled growing unease over inflation despite the fall in energy prices this month. Those fears were stoked by a hotter-than-expected inflation print from the US. (BBG – Continue Reading)

When Secretary of State Marco Rubio met with his G7 counterparts in Paris on Tuesday, he told them that President Trump had considered resuming the war with Iran or cutting a deal — but chose a third option: strangling the Iranian regime, three people who attended the meeting told Axios.

The Iran war has become a political albatross in Trump's second term, costing Republicans dearly in the midterms. For months, the president has alternated between threatening to obliterate Iran and predicting it will capitulate and give him the deal he wants.

"He's been searching for the solution, but he wasn't sure what's the best way to go," a U.S. official close to Trump said. This debate over which course to follow has led to strife between several factions within the top echelon of the administration. Each faction had the support of U.S. allies in the Middle East — namely Israel favouring renewed strikes and most Gulf countries opposing them. (Axios – Continue Reading)