# September 24, 2026: Trump and Xi Spotlight AI, Xi Presses Trump on Taiwan, More

An episode of [Bloomberg News Now](https://invisiblenetwork.ai/podcast/1701403307), 25 Sep 2026, 7:27.

Audio: https://podtrac.com/pts/redirect.mp3/tracking.swap.fm/track/UVBrz8bN8aM2Xe47PEPu/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/d9566f78-0464-4367-9dcc-b05700aeec6f/e669d90a-2dbe-4f3d-a4e0-b4d0003a7d42/audio.mp3?utm_source=Podcast&in_playlist=7f880b3c-7f67-4b4b-b520-b05700af9172

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## Transcript

[0:01] Speaker 1: News when you want it with Bloomberg News Now. I'm
[0:03] Speaker 1: Doug Krisner. President Trump and Chinese President Xi Jinping addressed
[0:07] Speaker 1: the competition between the U.S. and China today over artificial intelligence.
[0:12] Speaker 1: At the summit of these two leaders, Trump argued for
[0:15] Speaker 1: unfettered development of AI. However, Xi indicated an openness to
[0:19] Speaker 1: setting boundaries and ensuring the development of AI is always
[0:23] Speaker 1: under human control. Here is Bloomberg's Mike Shepard.
[0:26] Speaker 2: China certainly has raised its own safety questions toward the U.S.,
[0:30] Speaker 2: especially with the development of advanced models like mythos, which
[0:34] Speaker 2: have that super capability to break into almost any system,
[0:39] Speaker 2: at least according to Anthropic. So we do see a
[0:42] Speaker 2: little bit of divergence between the two leaders there, but
[0:45] Speaker 2: that does not mean that there will be any sort
[0:47] Speaker 2: of grand bargain coming out of this on AI.
[0:49] Speaker 1: That is Bloomberg's Mike Shepard. At the same time today,
[0:52] Speaker 1: President Trump hailed what he called a truly great friendship
[0:56] Speaker 1: with Xi Jinping, and Xi said, He is willing to
[0:59] Speaker 1: create a more stable, sustainable, and healthier future for U.S.-China relations.
[1:04] Speaker 1: Here is Montana Republican Senator Stephen Daines.
[1:07] Speaker 3: I think when you step back, it's just very important
[1:09] Speaker 3: to remember that the United States and China are the
[1:13] Speaker 3: two largest economies in the world by far. They comprise
[1:17] Speaker 3: about 42 percent of the world's GDP.
[1:19] Speaker 2: It's the world's two largest militaries.
[1:23] Speaker 3: Of course, the the two countries that have leadership in
[1:26] Speaker 3: terms of frontier models of AI. So I look at
[1:29] Speaker 3: this relationship as really too big to fail.
[1:32] Speaker 1: That was Montana Republican Senator Stephen Daines. Separately today, China's
[1:36] Speaker 1: Xinhua News Agency reported President Xi saying the U.S. should
[1:40] Speaker 1: adhere to the correct position on opposing Taiwan's independence. Negotiators
[1:46] Speaker 1: for the U.S. and Iran are exploring a phased deal
[1:49] Speaker 1: to reopen the Strait of Hormuz, This would include the U.S.
[1:53] Speaker 1: lifting its naval blockade of Iranian ports. Now, Qatari officials
[1:57] Speaker 1: mediated negotiations on the sidelines of the U.N. 's General Assembly.
[2:01] Speaker 1: We are told the deal would be similar to the
[2:03] Speaker 1: Memorandum of Understanding struck in mid-June, although that did collapse
[2:08] Speaker 1: just weeks later. Here is Bloomberg's Dina Isfandieri.
[2:12] Speaker 4: If this goes through, and I have to say I'm
[2:14] Speaker 4: quite skeptical, it's definitely good news, but it would be
[2:18] Speaker 4: temporary and there would be a lot of scope for
[2:21] Speaker 4: it not to be implemented properly. And that really is
[2:24] Speaker 4: what I'm worried about, because I think that neither side
[2:27] Speaker 4: right now, not the Americans, not the Iranians, neither side
[2:30] Speaker 4: is really ready to make the concessions necessary in order
[2:34] Speaker 4: for the war to end in a lasting manner.
[2:36] Speaker 2: And that's the problem.
[2:37] Speaker 1: That is Bloomberg's Dina Esfandieri. Interestingly, today, a White House
[2:41] Speaker 1: official said President Trump does remain open to talking with Iran,
[2:45] Speaker 1: although he doesn't need to negotiate because the U.S. is
[2:48] Speaker 1: in a strong position. The Republican-controlled Senate defeated a Democratic
[2:53] Speaker 1: resolution to end the war in Iran in a very
[2:56] Speaker 1: close vote, 49 to 50. More from Bloomberg's Amy Morris.
[3:01] Speaker 5: The vote was largely symbolic, but it was also seen
[3:04] Speaker 5: as a chance for vulnerable Republicans to distance themselves from
[3:08] Speaker 5: the war ahead of the midterms. Several Republicans said they
[3:11] Speaker 5: would like to see the war end quickly, but they're
[3:14] Speaker 5: not yet willing to rein in Trump's power to wage it.
[3:17] Speaker 5: Most Republican senators facing voters in the fall opposed the resolution.
[3:22] Speaker 5: Voters are anxious about the war driving up prices, and
[3:25] Speaker 5: endangered GOP lawmakers increasingly fear a voter backlash in the election.
[3:30] Speaker 5: In Washington, Amy Morris, Bloomberg Radio.
[3:33] Speaker 1: Crude oil prices are drifting lower after a rally in
[3:36] Speaker 1: New York trading. Earlier, we had some tensions flare in
[3:39] Speaker 1: the Middle East. Saudi Arabia said it intercepted six ballistic
[3:43] Speaker 1: missiles launched by Houthi militants. WTI was up 2.7 percent
[3:47] Speaker 1: in New York trading to 94.61. And those higher oil
[3:51] Speaker 1: prices helped to push yields up across the Treasury curve.
[3:55] Speaker 1: The worry is over persistent inflation and an aggressive response
[3:59] Speaker 1: from the Fed. Money markets are now fully pricing in
[4:02] Speaker 1: three rate hikes over the next year. Today, the 10-year
[4:05] Speaker 1: yield jumped 10 basis points to 5.21%. Here is George Maris,
[4:10] Speaker 1: CIO at Principal Asset Management.
[4:13] Speaker 6: The bond market is telling you that inflation is sticky.
[4:16] Speaker 6: It's becoming more and more intractable and that the Fed
[4:19] Speaker 6: needs to create some demand destruction or, as Chairman Wurst says,
[4:24] Speaker 6: the removal of accommodation. that removal should be a hindrance
[4:29] Speaker 6: to overall economic growth, earnings. Now, they're coming from very
[4:33] Speaker 6: strong levels, but it should be something to be paying
[4:35] Speaker 6: attention to. And so as long as inflation looks like
[4:38] Speaker 6: a problem, this is going to be something that the
[4:41] Speaker 6: bond markets are going to have to focus upon and
[4:44] Speaker 6: equity markets will as well.
[4:46] Speaker 1: That is George Maris, CIO at Principal Asset Management. Now,
[4:49] Speaker 1: the rise in yields cast a pall over the equity
[4:52] Speaker 1: market today, with the Dow slipping three-tenths of one percent, Meantime,
[4:56] Speaker 1: the S & P and the Nasdaq comp were essentially flat.
[4:59] Speaker 1: At the UN General Assembly today, Israeli Prime Minister Benjamin
[5:02] Speaker 1: Netanyahu said Israel will press ahead with its wars until
[5:06] Speaker 1: victory is achieved. Now, many delegates walked out of the chamber,
[5:10] Speaker 1: and Netanyahu lashed out at critics and said Israel will
[5:14] Speaker 1: continue to defend itself. If there are any other moral
[5:17] Speaker 1: cowards who haven't yet left this hall, please.
[5:21] Speaker 5: Do so now.
[5:22] Speaker 1: Meantime, Palestinian leader Mahmoud Abbas renewed his call for a
[5:26] Speaker 1: two-state solution. Here is Abbas speaking in a videotaped address
[5:30] Speaker 1: to the General Assembly.
[5:31] Speaker 7: The world has witnessed the tremendous cost in the Gaza
[5:35] Speaker 7: Strip and the West Bank. So what is the international
[5:39] Speaker 7: community waiting for in order to protect the Palestinian people,
[5:43] Speaker 7: ensure their continued presence on their land, and the Israeli
[5:47] Speaker 7: occupation and implement the two-state solution on the basis of
[5:52] Speaker 7: international legitimacy.
[5:53] Speaker 1: Palestinian President Mahmoud Abbas speaking to the UN General Assembly
[5:57] Speaker 1: through a translator. Anthropic has signed a seven-year contract with
[6:01] Speaker 1: Akamai Technologies for computing power. This deal is worth $ 11. 6
[6:06] Speaker 1: billion and it represents the largest deal in Akamai's history.
[6:10] Speaker 1: Akamai will be supplying Anthropic with access to central processing
[6:15] Speaker 1: units And Anthropic will get the right to buy Series
[6:18] Speaker 1: B shares in Akamai. Here is Bloomberg analyst Anurag Rana.
[6:22] Speaker 8: These deals, when you look at it, are structured on
[6:25] Speaker 8: a particular contract that they got. So it's possible when
[6:29] Speaker 8: you are looking at a specific contract with a specific provider,
[6:33] Speaker 8: you will have some backstops as well, whether from the
[6:37] Speaker 8: chip provider, whether it's NVIDIA or somebody else. So the
[6:40] Speaker 8: question really is when they go out in the market
[6:42] Speaker 8: to look at debt for that, what kind of covenants
[6:45] Speaker 8: would be, what kind of backing there is. So there
[6:48] Speaker 8: is a lot of ifs and buts, but all of
[6:51] Speaker 8: these deals need to be financed one way or the other.
[6:54] Speaker 1: That is Bloomberg analyst Anurag Rana. OpenAI's models reportedly went
[6:59] Speaker 1: rogue this year in at least four incidents not previously chronicled.
[7:04] Speaker 1: The models attempted to hack into government and university websites
[7:08] Speaker 1: without being instructed to do so. The New York Times
[7:11] Speaker 1: reports the attacks happened in May and June before OpenAI's
[7:15] Speaker 1: technology breached the AI startup Hugging Face. And that is
[7:20] Speaker 1: news when you want it. With Bloomberg News Now, I'm
[7:22] Speaker 1: Doug Krisner and this is Bloomberg.

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