Treasury Secretary Bessent: AI and quantum technology are the keys to national fortune, focusing on combating Chinese IP theft.

U.S. Treasury Secretary Scott Bessent stated at the Milken Institute Global Conference on May 5 that AI and quantum computing are not just a technological race, but a core strategy concerning the future destiny of the United States. He also pointed out that China has already caught up with the U.S. in the field of AI, and one of the key focuses of the Trump administration going forward is to combat Chinese intellectual property IP theft.

AI and quantum are the battles of national destiny; the United States cannot afford to lose.

Besant stated bluntly: "We must win in AI and quantum computing; if we lose, everything is meaningless."

He pointed out that China is rapidly catching up, which is quite natural, but he still believes that the United States will maintain its leading position.

He does not want the government to select the technology winners, but rather to create an environment that allows entrepreneurs the opportunity to succeed, while also protecting intellectual property rights through policy (IP).

The U.S. government does not choose champions, but aims to build an ecosystem.

Besant also revealed a series of measures that the US government will take to assist technology entrepreneurs:

Combat intellectual property theft ( specifically targeting China )

Provide basic funding, regulations, and market incentives

Grow together with grassroots entrepreneurial teams, rather than setting limits.

The venture capital circle and steelworkers stand together to support Trump, allowing AI achievements to benefit every class.

Bessent shared his personal experience at Trump's rally:

"At a rally in Pittsburgh, Trump had venture capital tycoons from Silicon Valley on one side and steelworkers in reflective vests on the other, all there to support him."

Make him understand that AI should not just be a technological toy for the elites, but should also allow grassroots workers to share in the fruits. He hopes that America can create a society that allows:

The child of a steelworker can become a Silicon Valley engineer.

Or choose to stay and work as a laborer, but the salary and quality of life are not inferior to the past.

Trade, tax reform, and deregulation, the three main pillars of Trump's policy

Besant also emphasized the three major economic strategies of the Trump administration at the end.

Trade policy: Using tariffs to exert pressure, guiding companies to return to invest in the United States and create jobs.

Tax incentives: Make tax deductions for small businesses permanent, provide high-tech R&D deductions, restore tax exemptions for equipment depreciation, and even expand to new factory construction.

Deregulation policy: The fastest example is the construction permit reform, which has shortened the previous process that took years to just a few months, accelerating the start of construction.

This article by Treasury Secretary Bessent: AI and quantum technology are key to national fortunes, with a focus on combating Chinese IP theft, first appeared in Chain News ABMedia.