Bessent on China and Iran Fox’s complete interview

Sep 23

Bret Baier interviews Scott Bessent about China trade, the economy, AI and economic pressure on Iran. Bessent announces a two-month extension of the Busan trade truce to January 10, describing unfinished negotiations, possible tariff reductions and financial-services announcements, soybean purchases and other agricultural commitments. Those possible deals remain prospective. He attributes energy inflation to the Iran conflict, cites core inflation and PMI, jobs and wages, and forecasts lower energy prices. On AI, he expects China to engage on a proposed safety channel but says its scope remains unresolved; he dismisses speculation about becoming an AI czar. Asked about corporate liability, he says humans create AI systems and agents and bear responsibility, endorsing Daniel Huttenlocher's editorial without specifying a statute or resolving liability in a case. He estimates 10–17 million barrels of oil a day moving through Hormuz plus about three million by other routes, alleges Iranian drone attacks and credits the U.S. Navy. He claims most external Iranian flights have been halted, describes private talks with China and banking actions with Emirati and Turkish partners, and refers to Russian-bank sanctions. These are his accounts, not independently verified outcomes. He recalls the failed June memorandum and predicts Iran will concede, without a confirmed timetable or agreement.

Bessent says China is eager to engage on AI risks and he believes it will agree to a channel whose terms are still being defined. Baier notes that Beijing has not publicly agreed. Bessent identifies uncontrolled agents and non-state use of AI for cyber operations or biological threats as risks, and hopes incidents crossing borders can be discussed. He does not confirm an operational emergency hotline. A later panel replays the question and his account of Chinese interest.